The Del Vecchio family’s investment company expects to get more than €860 million ($945 million) in dividends this year from its holdings, including eyewear-maker EssilorLuxottica SA.
(Bloomberg) — The Del Vecchio family’s investment company expects to get more than €860 million ($945 million) in dividends this year from its holdings, including eyewear-maker EssilorLuxottica SA.
Delfin, the investments vehicle owned by Luxottica founder Leonardo Del Vecchio’s heirs, said its net asset value rose to about €29 billion, about 50% more than when EssilorLuxottica was founded in 2018.
“We are confident the improving trend could be continued in 2023,” said EssilorLuxottica Chief Executive Officer Francesco Milleri, who has succeeded Leonardo Del Vecchio as head of Delfin.
Del Vecchio, who died one year ago at 87, divided his fortune equally between his wife, his six children and the son of his wife. He also left 2.15 million EssilorLuxottica shares for Milleri. His will has yet still to be fully executed as some of his heirs accepted the heritage with conditions, Italian media have reported.
Delfin’s holdings include a 32% stake in EssilorLuxottica, formed from the merger of his Luxottica SpA with French lens maker Essilor, as well as stakes in Italian financial companies Mediobanca SpA, Assicurazioni Generali SpA and UniCredit SpA, and in the real estate company Covivio SA.
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