(Alliance News) - The prospect of a stock market listing for Delfin, the Luxembourg-based holding company of Leonardo Del Vecchio's heirs that controls EssilorLuxottica and holds financial stakes in companies such as Generali, MPS, and UniCredit, is beginning to take shape.
According to a report by Il Sole 24 Ore on Thursday, the operation is currently being considered by the main shareholders and is intertwined with the ongoing rebalancing of internal family dynamics.
In recent days, Luca and Paola Del Vecchio are said to have accepted the right of first refusal exercised by their brother Leonardo Maria on their shares. The listing project is still under review: among the scenarios being considered is the creation of a separate vehicle for the financial holdings to be floated on the stock exchange, or the listing of the entire Delfin entity, Il Sole writes.
The net asset value of the holding is estimated at around EUR46.5 billion, which translates to approximately EUR5.8 billion for each 12.5% stake, although it is common in such transactions to apply a discount to the NAV.
The operation could be finalized by August.
By Claudia Cavaliere, Alliance News reporter
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