Italy's Del Vecchio heirs reach provisional agreement to settle inheritance dispute, sources say

• The dispute involved Leonardo Maria Del Vecchio and Rocco Basilico, both heirs who challenged each other's ownership rights in the family holding company
• Delfin controls significant stakes in major companies including 32.4% of EssilorLuxottica, 17.5% of Monte dei Paschi di Siena bank, and 10.5% of insurer Generali
• The late Leonardo Del Vecchio, who founded the Ray-Ban empire and died in 2022, divided Delfin equally among six children, his widow, and Basilico (his widow's son from another marriage)

Summary: Del Vecchio Heirs Reach Provisional Settlement Over Inheritance Dispute

Two heirs of late Ray-Ban billionaire Leonardo Del Vecchio have reached a provisional agreement to settle an inheritance dispute and drop cross-lawsuits involving Delfin, the family holding company that controls a 32.4% stake in EssilorLuxottica. However, sources caution that a final agreement has not been finalized and details remain under negotiation.

Key Parties and Stakes:

The dispute involves Leonardo Maria Del Vecchio and Rocco Basilico, both heirs to the eyewear fortune. The settlement would facilitate Leonardo Maria Del Vecchio's purchase of additional stakes, raising his holding in Delfin to 37.5%. The family holding also controls a 17.5% stake in Monte dei Paschi di Siena bank and 10.5% in insurer Generali.

Background:

Leonardo Del Vecchio, who founded the family empire and died in 2022, divided Delfin equally among six children, his widow, and Basilico (his widow's son from another marriage). The legal dispute centered on challenges to ownership rights, with Leonardo Maria previously contesting Rocco Basilico's claim to full ownership of his stake, while Basilico raised questions about the validity of certain inheritance aspects.

Market Implications:

The settlement would resolve uncertainty around the control structure of major European companies, particularly EssilorLuxottica (the world's largest eyewear company), as well as significant holdings in Italian financial institutions. Resolving this family dispute could provide clarity for investors regarding governance and strategic direction of these portfolio companies.

The news was first reported by Italy's Ansa news agency.