Del Vecchio and French make peace over Essilux

Shares rise 3% on news of deal

(ANSA) - Rome, May 13 - French-Italian eyewear giant EssilorLuxottica and French group Delfin on Monday signed a deal to settle governance issues.
    Leonardo Del Vecchio and Hubert Sagnières delegated some powers to Francesco Milleri and Laurent Vacherot. All ongoing dispute have been resolved including Delfin's arbitration sources said.
    Essilux stocks rose 3% on the news of the deal.
    EssilorLuxottica SA is a French-Italian vertically integrated multinational corporation based in Paris and founded on 1 October 2018 from the merger of the French Essilor and the Italian Luxottica. It is one of the leading groups in the design, production and marketing of ophthalmic lenses, optical equipment and prescription glasses and sunglasses. The company has more than 20 premium brands including Oakley, Michael Kors, LensCrafters, and more.
    The global eyewear holding company has 16 billion euros in revenues and 57 billion capitalization. The company is listed on the Euronext Paris stock exchange and is part of the CAC 40 share index which includes the 40 largest capitalized companies traded on the Paris Stock Exchange and the Euro Stoxx 50 which includes the 50 largest companies in the Eurozone.


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