“It is a milestone in our vision of reshaping the optical industry with the aim to provide all consumers of the world a better optical experience with higher quality eyewear.”. The previous deadline was August 27, Reuters reported. The European Union competition regulator did not give details for the move, the third time it has halted proceedings. PDF 0.13MB. Ray-Ban and Sunglass Hut parent, EssilorLuxottica SA, has agreed to buy GrandVision NV, a deal valuing the smaller Dutch optical retail chain at as much as 7.3 billion euros ($8.1 billion). A global leader in optical retailing, GrandVision offers a wide range of services provided by its vision experts, prescription glasses including frames and lenses, contact lenses and contact lens care products, and sunglasses. It is expected that it will take approximately 12 to 24 months before closing of the Transaction. Mergers Merger Cases. The proposed EssilorLuxottica-GrandVision deal is under review by the European competition authority. In a merger which creates a truly global eyecare and eyewear company, French-Italian ophthalmic optics company EssilorLuxottica has acquired Dutch optical retailer GrandVision in an €8bn deal. Update on the proposed acquisition of GrandVision by EssilorLuxottica. On this page you can search for all merger cases. For latest updates of cases follow this link updates of cases. EssilorLuxottica, which was formed through the merger of France's Essilor International SA and Italy's Luxottica Group SpA in 2018, agreed on July 31, 2019, to buy 76.72% of GrandVision at €28 per share, a deal that would value the target at €7.11 billion. We use cookies to offer a better user experience and to analyze site traffic. GrandVision Transaction Announcement Presentation 1.1 MB. Hitachi to acquire the remaining shares in Hitachi High-Technologies for $4.8bn. GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 31.07.19 Corporate EssilorLuxottica intends to acquire full ownership in GrandVision to create a truly global eyecare and eyewear company. Since the merger in October 2018, the papers have gone through a rollercoaster ride. EssilorLuxottica's brand portfolio includes Ray-Ban and Oakley, and the company also makes equipment such as lenses, according to its website. EssilorLuxottica SA, the maker of Ray-Ban sunglasses, remains committed to its proposed 7.3 billion-euro ($8.3 billion) purchase of retailer GrandVision NV, people with knowledge of the matter said. ... Update on legal proceedings to obtain information from HAL and GrandVision. EssilorLuxottica Is Said to Be Reconsidering GrandVision Deal Ruth David, Bloomberg News A phoropter ophthalmic testing device sits inside a Pearle opticians store, operated by Grandvision NV, in Amsterdam, Netherlands, on Wednesday, July 1, 2020. The Franco-Italian company still sees value in acquiring GrandVision’s network of eyewear shops across Europe, according to the people, who asked not to be … An in-depth investigation has been launched by the European Commission into the proposed acquisition of GrandVision by EssilorLuxottica. The acquisition of GrandVision is dependent on meeting various conditions including antitrust clearance. The acquisition of GrandVision is dependent on meeting various conditions including antitrust clearance. GrandVision sells lower-priced eyewear through chains such as Brilleland and For Eyes in more than 40 countries. Until this is available, your continued use of this site will be deemed as consent to use of cookies. “With GrandVision, we will be able to develop our retail network, finally extended throughout the geographies, and fully enable our multichannel and digital platforms. EssilorLuxottica SA agreed to buy GrandVision NV in a deal that values the smaller Dutch eyecare retailer at as much as 7.3 billion euros ($8.1 billion) and … It has been unconditionally cleared in the US, Russia and Colombia, and is under review also in Brazil, Chile, Mexico and Turkey. GrandVision operates about 5,300 stores across Europe and has a global network of more than 7,200 stores. GrandVision confirms HAL and EssilorLuxottica are engaged in discussions on possible sale of controlling interest in GrandVision 55.9 KB EssilorLuxottica, the world leader in optics, filed a lawsuit in Rotterdam, the Netherlands, to obtain information from the global optical distributor GrandVision about the impact of the coronavirus crisis on its business and to assess the extent of GrandVision’s breaches of its obligations under the Support Agreement.. Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision … The strategic logic behind EssilorLuxottica’s proposed acquisition of GrandVision has not changed despite the litigation between the two companies, Leonardo Del Vecchio, Essilux executive chairman, told the Italian daily Il Messaggero.Del Vecchio is the founder of Luxottica and is the main shareholder of Essilux through his family holding company Delfin. Macquarie makes a rival bid for Cincinnati Bell. The transaction is subject to various closing conditions, including regulatory approvals and mandatory consultation procedures, and is expected to close in 12 to 24 months. October 2019  |  DEALFRONT  |  MERGERS & ACQUISITIONS. To comply with the European General Data Protection Regulation (GDPR), we are implementing a cookie consent manager to provide residents of the EU/EEA with the ability to customize their cookies. EssilorLuxottica was created last year from the €46.3 billion euro merger between Italian sunglasses maker Luxottica and French lens manufacturer Essillor. EssilorLuxottica has agreed to buy rival GrandVision in a €7.1bn deal that will underline the Franco-Italian group’s dominance as the world’s largest eyewear maker and retailer. GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 98 KB. Concerns have been raised that the merger may reduce competition for the wholesale supply of ophthalmic lenses and eyewear, … EssilorLuxottica's $8.1bn acquisition of a 77% stake in GrandVision faces EU probe. We will raise the quality of in-store experience for products, brands and services for the benefit of all consumers and our wholesale customers.”. No stranger to large-scale acquisition, EssilorLuxottica itself is a result of the €46bn merger of Italy’s Luxottica Group SpA and France’s Essilor International SA in 2017. 17 Aug 2020. More reading Commission probes proposed EssilorLuxottica-GrandVision acquisition While the share price was still just over $144 (€130) shortly after the merger, EssilorLuxottica then saw a gradual decline. EssilorLuxottica is acquiring GrandVision from Dutch private equity (PE) group HAL – which holds a 76.72 percent majority stake in GrandVision – at a cash purchase price equal to €28 per share – to be increased by 1.5 percent to €28.42 if closing of the acquisition does not occur within 12 months from the announcement date (31 July 2019). These products are offered through leading optical retail banners which operate in more than 40 countries across Europe, the Americas, the Middle East and Asia. “Furthermore, it will create a truly global eyecare and eyewear company that is ideally positioned to capture changing consumer needs and behaviours, and provide customers with a high quality optical omnichannel customer experience.”. For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. “The future integration of GrandVision with EssilorLuxottica brings new opportunities to GrandVision’s business, its well-established retail banners, stores, employees and all our stakeholders,” said Stephan Borchert, chief executive of GrandVision. De Brauw Blackstone Westbroek is acting as legal adviser. “The acquisition of GrandVision represents the realization of a vision that has guided my actions and the growth of Luxottica over all these years,” said Leonardo Del Vecchio, executive chairman of EssilorLuxottica. Acting as financial adviser to GrandVision is ING. In turn, GrandVision will benefit from EssilorLuxottica’s commitment to, and investment in, product innovation, supply chain, talent development and digital knowledge to foster a richer relationship with GrandVision’s more than 150 million consumers. 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