The Del Vecchio Inheritance War Is Heading Toward a Billion-Dollar Deal [Yahoo! Finance]
ESSILOR LXTTCA UNSP/ADR (ESLOY)
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Source: Yahoo! Finance
The Del Vecchio Inheritance War Is Heading Toward a Billion-Dollar Deal - Moby THE GIST Europe's biggest corporate fortunes often look stable from the outside. Inside the family boardroom, they can be anything but. Now the heirs of Luxottica founder Leonardo Del Vecchio appear to be edging toward a deal that could settle a long-running succession battle and consolidate power over the holding company behind Ray-Ban maker EssilorLuxottica. WHAT HAPPENED Leonardo Maria Del Vecchio, one of the six children of the late billionaire Leonardo Del Vecchio, says he is nearing an agreement to buy out two of his siblings from the family holding company Delfin. Delfin, based in Luxembourg, sits at the center of the Del Vecchio fortune. It is the largest shareholder in eyewear giant EssilorLuxottica and holds stakes in companies including insurer Generali and Banca Monte dei Paschi di Siena. Leonardo Maria told the Financial Times that talks are close to agreeing a price that would a
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