Ray-Ban Heir Wins Approval for €10 Billion Buyout of Siblings

EssilorLuxottica SA heir Leonardo Maria Del Vecchio agreed to buy two of his siblings’ stakes in the family holding company for about €10 billion ($11.7 billion), people familiar with the matter said, becoming the largest single investor in the Ray-Ban empire built by his father.

Six of the eight shareholders in the family’s Delfin Sarl approved the sale of the 25% combined holding at an extraordinary meeting on Monday, the people said, asking not to be named without authorization to speak publicly.