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Leonardo Maria Del Vecchio will raise Delfin stake to 37.5% and has hired Citigroup

Leonardo Maria Del Vecchio has mandated Citigroup to advise on increasing his holding in the family holding company Delfin and to lead the financing. He has submitted an offer to exercise his established pre-emptive right on his siblings Luca’s and Paola’s respective 12.5% stakes. If the transaction succeeds, his stake would rise to 37.5% and make him the largest shareholder. According to a letter quoted in the newspaper Repubblica, Luca and Paola are each asking about $7 billion for their stakes. » More on de.investing.com