2017.07.24

Antitrust process update for the proposed combination between Essilor and Luxottica

Charenton-le-Pont, France and Milan, Italy (July 24, 2017) – The proposed combination between Essilor (Euronext Paris: EI) and Luxottica (MTA: LUX) continues to progress, with the antitrust process advancing in all jurisdictions.

Essilor and Luxottica have jointly filed with the antitrust authorities in three of the five jurisdictions whose approvals are a condition precedent to the closing of the transaction, namely the U.S., Canada and Brazil.

In the U.S. and Canada, the investigation has entered the phase of a secondary request, as expected for such a sizeable deal.

In China, the fourth jurisdiction for which approval is a condition precedent, the proposed transaction is under MOFCOM’s review and notification acceptance is expected shortly.

In Europe, the fifth jurisdiction for which approval is a condition precedent, the two companies are conducting an open and constructive dialogue with the Commission in the context of the pre-notification phase and expect to be able to formally notify the transaction in the coming weeks.

The two companies have already received clearance in Russia and India. In other relevant jurisdictions, the two companies have notified the transaction and are conducting an open and constructive dialogue with the antitrust authorities.

The two companies’ shared objective in cooperation with the relevant authorities is to close the antitrust process around the end of the year.

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As announced on January 16, 2017, Essilor and Delfin, the majority shareholder of Luxottica Group, signed an agreement designed to create an integrated global player in the eyewear industry with the combination of Essilor and Luxottica.

 

CONTACTS

Essilor

Investor Relations
Véronique Gillet
Tel.: +33 (0)1 49 77 42 16

Corporate Communications
Lucia Dumas
Tel.: +33 (0)1 49 77 45 02

 

Luxottica Group

Investor Relations and Corporate Communications
Alessandra Senici
Tel.: +39 (02) 8633 4870

Corporate Communications and Media Relations
Marco Catalani
Tel.: +39 (02) 8633 4470

 

Important Information
This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they have been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or are exempt from registration. The securities that may be offered in any transaction have not been and will not be registered under the U.S. Securities Act and Essilor does not intend to make a public offering of any such securities in the United States.
This press release is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities which are referred to herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

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