I Del Vecchio and BenettonTwo iconic families of the Northeast and of Italian family capitalism are experiencing crucial times for their future and their businesses. After the head-on clash between the brothers Leonardo Maria Del Vecchio and Rocco Basilico, Both sons of Nicoletta Zampillo but of different fathers, on the reorganization of Dolphin, the Luxembourg-based financial institution chaired by Francesco Milleri and whose shareholders include the eight heirs of the legendary Leonardo, are beginning to show signs of peace. For now, there's only a verbal agreement and a commitment to withdraw all lawsuits blocking Delfin, but a formal agreement is not out of the question this weekend, assuming there are no unexpected developments. Leonardo needs it most, because without Rocco's approval and the withdrawal of his lawsuit in the Luxembourg court, he would be unable to receive the €11 billion loan from the banks (BNP Paribas, Credit Agricole and Unicredit) which he needs to buy the shares of the brothers Luca and Paola and become the main shareholder of Delfin with a 37,5% stake. The agreement between Leonardino and Rocco will determine the unblocking of the reorganization of Delfin, the distribution of the inheritance among the heirs of Del Vecchio and indirectly also the future of the rich financial holdings of the Luxembourg holding, from Generali (10%), a Ps (17,5%) and Unicredit (2,7%) whose liquidation could change the face of Italian finance. In short, if they are rosy, they will bloom.
A whole different music at home Benetton, where dissent has long been simmering among the second-generation heirs. Now it seems the crunch is approaching, and two of Giuliana Benetton's children want to exit Edizione, the holding company of the Ponzano Veneto-based family. The timeframe for their exit is between July and November 2026. If Giuliana's children, whose net worth is estimated at between €3 and €3,5 billion, were to wish to leave, the holding company itself would buy back their shares. We'll see soon.
