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Delfin Sells Luxottica Shares

The placement was carried out through an accelerated book-building offer to increase trading liquidity of the Italian eyewear maker.

MILAN — Delfin S.à r.l., the holding controlled by Luxottica founder and chairman Leonardo Del Vecchio, said Thursday it had completed the placement of 3.8 percent of the group’s outstanding ordinary shares, or 18 million ordinary shares of the Italian eyewear maker, for 486 million euros, or $610.4 million at current exchange.

The placement was carried out through an accelerated book-building offer to increase trading liquidity of Luxottica and shares were priced at 27 euros, or $34, each.

As a result of the sale, Delfin will hold approximately 62.1 percent of the outstanding ordinary share capital of Luxottica, which produces collections for brands such as Burberry, Chanel and Prada, among others.

Luxottica shares closed down 4.79 percent to 28 euros, or $35.1.