GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 31.07.19 Corporate GrandVision reports HY19 revenue growth of 7.3% … Macquarie makes a rival bid for Cincinnati Bell. CHARENTON-LE-PONT, France — EssilorLuxottica SA, the maker of Ray-Ban sunglasses, remains committed to its proposed €7.3 billion ($8.3 billion) purchase of retailer GrandVision NV, people with knowledge of the matter said.. EssilorLuxottica said that after completing a transaction with holding company HAL Holding, it would seek to buy out the rest of GrandVision, which could ultimately value the Dutch company at more than €7.15 billion ($8 billion). 31 July 2019: Add Files. 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. Since the merger in October 2018, the papers have gone through a rollercoaster ride. Mergers Merger Cases. “This acquisition is another step towards our ambition to eradicate poor vision in the world before 2050,” said Hubert Sagnières, executive vice chairman of EssilorLuxottica. 17 July 2019: Add Files. GrandVision confirms HAL and EssilorLuxottica are engaged in discussions on possible sale of controlling interest in GrandVision 55.9 KB Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision … Hitachi to acquire the remaining shares in Hitachi High-Technologies for $4.8bn. Update on the proposed acquisition of GrandVision by EssilorLuxottica. Through the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally, over 37,000 employees and Euro 3.7 billion in annual revenue The Transaction is subject to various closing conditions, including regulatory approvals and mandatory consultation procedures For currently open merger cases follow this link open merger 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. GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 98 KB. EssilorLuxottica operates more than 9,000 stores, including retail brands like LensCrafters and Pearle Vision in the United States. “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. Paris-based EssilorLuxottica agreed to buy control (77%) of European rival GrandVision for about €5.49 billion (about $6.1 billion). 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. Spectacles maker EssilorLuxottica said on Friday it would appeal against a court verdict regarding planned takeover target GrandVision, after losing a … A blockbuster deal in the eyecare retail space was announced on Wednesday as EssilorLuxottica, the maker of Ray-Ban sunglasses, agreed to buy Dutch retailer GrandVision NV in multi-billion dollar deal. GrandVision sells lower-priced eyewear through chains such as Brilleland and For Eyes in more than 40 countries. The previous deadline was August 27, Reuters reported. EssilorLuxottica, the maker of Ray-Ban sunglasses, is reconsidering its agreed €7.3 billion (US$8.8 billion) purchase of optical retailer GrandVision NV over legal and pandemic concerns, reported Bloomberg. Mr Sagnières concluded: “We look forward to welcoming GrandVision to the growing EssilorLuxottica family. 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. De Brauw Blackstone Westbroek is acting as legal adviser. For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. 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 … Acting as financial adviser to GrandVision is ING. Bausch Health Acquires Option To Purchase Ophthalmology Assets Of Allegro Ophthalmics, BVI Expands Portfolio with New Viscoelastic; Forges Strategic Partnership with Croma. 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. PDF 0.13MB. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) October 2019  |  DEALFRONT  |  MERGERS & ACQUISITIONS. EssilorLuxottica and GrandVision will work together to obtain all necessary merger clearances. 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. GrandVision Transaction Announcement Presentation 1.1 MB. 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). An in-depth investigation has been launched by the European Commission into the proposed acquisition of GrandVision by EssilorLuxottica. 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). In this section you will find all the press releases concerning EssilorLuxottica: enter the website to discover more. Together, we will have an even stronger voice to champion better vision everywhere in the world.”. The European Union competition regulator did not give details for the move, the third time it has halted proceedings. With the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7200 stores globally, over 37,000 employees and €3.7bn in annual revenue. 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.. 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 … The acquisition of GrandVision is dependent on meeting various conditions including antitrust clearance. 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. We use cookies to offer a better user experience and to analyze site traffic. 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. •Through the acquisition of GrandVision, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally, over 37,000 employees and €3.7 billion in annual revenue •The combination, which further complements EssilorLuxottica’s scope of activities, will allow the 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. The acquisition of GrandVision is dependent on meeting various conditions including antitrust clearance. The proposed EssilorLuxottica-GrandVision deal is under review by the European competition authority. GrandVision operates about 5,300 stores across Europe and has a global network of more than 7,200 stores. “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.”. It is expected that it will take approximately 12 to 24 months before closing of the Transaction. 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). 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