EssilorLuxottica : Update on the proposed acquisition of GrandVision by EssilorLuxottica
Update on the proposed acquisition
of GrandVision by EssilorLuxottica
Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica.
The parties are confident that Phase II will be completed in a timely manner and will closely cooperate with the European Commission to fully demonstrate the rationale of the proposed acquisition and the benefits that it will bring to customers, consumers and all the eyewear industry players.
The companies reaffirm the shared objective to close the transaction within 12 to 24 months from the announcement date, July 31, 2019, in cooperation with the relevant authorities. The transaction has been unconditionally cleared so far in the United States, Russia and Colombia, and it is currently under review also in Brazil, Chile, Mexico and Turkey.
Further announcements will be made if and when required.
EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed in 2018, its mission is to help people around the world to see more, be more and live life to its fullest by addressing their evolving vision needs and personal style aspirations. The Company brings together the complementary expertise of two industry pioneers, one in advanced lens technology and the other in the craftsmanship of iconic eyewear, to set new industry standards for vision care and the consumer experience around it. Influential eyewear brands including Ray-Ban and Oakley, lens technology brands including Varilux® and Transitions®, and world-class retail brands including Sunglass Hut and LensCrafters are part of the EssilorLuxottica family.
In 2018, EssilorLuxottica had nearly 150,000 employees and pro forma consolidated revenues of Euro 16.2 billion.
The EssilorLuxottica share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices.
Codes and symbols: ISIN: FR0000121667; Reuters: ESLX.PA; Bloomberg: EL:FP.
|EssilorLuxottica Investor Relations|
(Charenton-le-Pont) Tel: + 33 1 49 77 42 16
(Milan) Tel: + 39 (02) 8633 4870
|EssilorLuxottica Corporate Communications|
(Charenton-le-Pont) Tel: + 33 1 49 77 45 02
(Milan) Tel: + 39 (02) 8633 4470
Upcoming Life Sciences Events
- February 2020
- Allschwil: Fundraising Bootcamp
- Amsterdam: Pharma & Biotech Patent Litigation
- March 2020
- : Evolution Summit