Ray-Ban Heir Proposes $33 Billion Bid to Take Control of Family Empire

Leonardo Maria Del Vecchio has proposed a $33 billion takeover of Delfin, the family investment company behind Ray-Ban owner EssilorLuxottica. The 31-year-old nightclub owner is reportedly seeking to buy out his seven co-owners, including his siblings and mother, with financing that includes a nearly $25 billion loan from Citigroup. The proposal comes amid a family dispute over control of the business empire, whose shares were divided among eight heirs after Leonardo Del Vecchio died in 2022. It would also compete with a separate offer from Czech billionaire Michal Strnad. Leonardo Maria said he would present his proposal to the other shareholders on November 7, according to reports.

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