Del Vecchio heir seeks €10 bn buyout, clash before June 30

Leonardo Maria Del Vecchio, an heir to the fortune behind eyewear giant EssilorLuxottica, has publicly challenged the board of his family's holding company to support his proposed 10-billion-euro buyout of two siblings, escalating a succession battle days before a crucial shareholder meeting. In an open letter published on Friday, June 19, 2026, in the newspaper Quotidiano Nazionale, which he owns, the 31-year-old accused the board of Delfin Sarl of failing to provide clear explanations for its shifting stance on the transaction.

The proposed deal would see Del Vecchio acquire the combined 25% stake in Delfin held by his siblings, Luca and Paola Del Vecchio. This would raise his ownership to 37.5%, making him by far the largest shareholder in the Luxembourg-based investment vehicle and potentially bringing greater clarity to the succession of one of Europe's largest family fortunes, built by his late father, Leonardo Del Vecchio, who died in 2022.

However, the acquisition hinges on securing a complex 10-billion-euro financing package from UniCredit, BNP Paribas, and Credit Agricole, described as one of the largest acquisition financings ever pursued by an individual in Europe....