October 24, 2019 / 12:52 PM / 19 days ago

Third Point confirms EssilorLuxottica stake in investor letter

BOSTON, Oct 24 (Reuters) - Billionaire investor Daniel Loeb said on Thursday his hedge fund owns a $700 million stake in Ray-Ban maker EssilorLuxottica SA and is urging the company to “accelerate leadership transitions”.

The hedge fund wrote in a letter to investors seen by Reuters that it had met with many company executives and expects EssilorLuxottica to increase earnings and free cash flow at mid-teens CAGR (compound annual growth rate) for several years. (Reporting by Svea Herbst-Bayliss; editing by David Clarke)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below