Ray-Ban Heir Steps Up Talks on €10 Billion Buyout of Siblings

An heir to EssilorLuxottica SA founder Leonardo Del Vecchio is in advanced talks to buy out two of his siblings for about €10 billion ($11.7 billion), in a potential step toward resolving the Ray-Ban magnate’s estate four years after his death.

Thirty-year-old Leonardo Maria Del Vecchio, a son of Leonardo, has accelerated discussions to acquire a roughly 25% stake in the family holding company owned by siblings Luca and Paola, and could reach a preliminary agreement within weeks, according to people familiar with the matter.