1. The deal is a merger of equals, meaning that is it is unclear who is the dominant party, and who is to provide the greatest synergies to the new entity. Explore more for Essilor luxottica merger breaking news, opinions, special reports and more on Livemint. The Commission, which acts as the competition watchdog for the European Union, said it would extend the deadline by 10 working days to February 26. Charenton-le-Pont, France (March 30, 2020 – 6:00 p.m.) – In view of recent world changes, it has become necessary for Essilor to speed up its integration with Luxottica in order to build a more resilient, flexible and agile combined organization. 81,316,189 new ordinary shares of Essilor as consideration for the Luxottica shares tendered into the mandatory public exchange offer, subject to Italian law, to be initiated by Essilor (to be renamed “EssilorLuxottica” as from the closing of the contribution to Essilor of Luxottica shares by Delfin) for The companies have described the merger as being “designed to create an integrated player dedicated to visual health and superior consumer experience.” According to the terms of the deal, Delfin will contribute its entire stake in Luxottica (approx. Essilor Advisors: Rothschild, Citi . This post is sponsored by Luxottica Jan 16, 2017. The next steps envisage the transfer of the 62% stake in Luxottica to Delfin, – the holding company of the founder Leonardo Del Vecchio – the transfer of all Essilor’s activities to a subsidiary, the issue of new EssilorLuxottica shares, which will be offered as exchange for Luxottica shareholders, and the cancellation of double voting rights. For latest updates of cases follow this link updates of cases. The combination appears as a genuine merger of equals, with both companies’ EV being in the range of €26-27bn. According to the terms of the deal, Delfin will contribute its entire stake in Luxottica (approx. The combination appears as a genuine merger of equals, with both companies’ EV being in the range of €26-27bn. The closing of the contracts will give life to a giant, EssilorLuxottica, with an annual turnover of 16 billion, a market capitalization […] The firm had even hired headhunters to find external candidates. The optical industry is reeling this morning from the news that Essilor and Luxottica have entered into a historic merger that combines the two largest optical companies in the world. Approached firm: Luxottica. In a massive merger agreement that would reshape the eyewear industry, Luxottica Group, maker of Ray-Ban sunglasses, has agreed to a merger with French optical-lens maker Essilor International. PARIS (Reuters) - French eyewear group Essilor (>> Essilor International) said on Tuesday it was confident of securing European Union approval for its $54 billion merger with Italian peer Luxottica (>> Luxottica Group) after the EU launched a full-scale probe into its impact on competition.. On this page you can search for all merger cases. Use our search feature to retrieve official announcements and news from the Group. Luxottica Advisors: Mediobanca. For currently open merger cases follow this link open merger cases. EssilorLuxottica, formed in 2018 a merger between French lens manufacturer Essilor and Italian spectacles maker Luxottica, said du Saillont has been promoted to director of the company in place of Laurent Vacherot, former CEO of Essilor International, who retired. Mergers Merger Cases. The company, formed by a 46 billion euro ($56 billion) union of France's Essilor and Italy's Luxottica, had given itself until the end of 2020 to find a new CEO - a compromise candidate to appease both sides. PARIS and MILAN—Plans for a mega merger of Essilor [Euronext Paris: EI] and Luxottica [MTA: LUX; NYSE: LUX], two global giants of the eyewear industry, were announced today by Essilor and Delfin Sarl, the Luxembourg based holding company of the Del Vecchio family, the majority owners of Luxottica. Initiating firm: Essilor. Luxottica, which owns the Ray-Ban, Persol and Oakley brands, agreed in January 2017 to merge with Essilor in a deal that would create a company with a combined market value of about 46.3 billion euros ($56.6 billion). Italian Luxottica and the French Essilor – two of the world’s largest lens maker with the largest frame manufacturer – have successfully completed a €48 billion (AU$76.9 b) merger, 20 months after news of the deal first broke. Why the $49 billion merger of eyewear giants Luxottica and Essilor worries some antitrust experts Published Sat, May 18 2019 7:00 AM EDT Updated Sat, May 18 2019 6:59 AM EDT Karin Shedd For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. Essilor and Luxottica Merger - Official Press Release January 16th 2016. by Matt Geller, OD. The Essilor and Luxottica merger will result in the following: A 45% global market share for lab services (Essilor) 18% of the world’s annual eyewear frame sales (Luxottica) An overall workforce of 140,000+ employees; Distribution and retail channels serving 150 countries; Global ecommerce Websites (Essilor) $16 billion in combined annual revenue essilor luxottica Latest Breaking News, Pictures, Videos, ... EU extends Luxottica, Essilor merger review deadline to Feb 26. Essilor said it had reached an agreement with Luxottica's owners for an all-share deal to combine the two lens companies. The transaction, announced in January, will be one of biggest cross-border deals ever completed in Europe, and will create an industry powerhouse with annual revenue of more than €15bn. Luxury eyewear specialists, Italian frame manufacturer Luxottica Group and French optical lens producer Essilor International, have announced that they are to merge in an all stock deal worth $49bn. What will the merger of Luxottica and Essilor mean for the eye care industry? Read and download Luxottica Press Releases from 2005 and on. Get the latest Essilor luxottica merger news, videos and headlines. 10 min ... By bringing together Essilor and Luxottica, the new group would be in an outstanding position to propose a comprehensive … Both companies' share prices rose following the news. Under terms of the deal, Essilor will buy Luxottica for about 22.8 billion euros ($24 billion) in stock, combining the largest manufacturer and retailer in eyewear. This news surely does pose some interesting questions and stir-up emotions within the optical industry. There has already been a lot of activity in this sphere, with companies such as MyEyeDr and Clarkson Eyecare buying many independent ECP’s as well as smaller regional chains. Essilor-Luxottica will have combined revenues of more than €15bn and presence in more than 150 countries. MENU. 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