EssilorLuxottica SA logo

EL - EssilorLuxottica SA News Story

€159.16 5.2  3.4%

Last Trade - 30/07/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £57.36bn
Enterprise Value £60.37bn
Revenue £12.28bn
Position in Universe 18th / 841

BUZZ-Grandvision seen down as EssilorLuxottica's free to withdraw its bid

Tue 22nd June, 2021 7:57am
** *Grandvision  GVNV.AS  shares seen slumping 10% after a
Dutch court said EssilorLuxottica  ESLX.PA  was no longer
obliged to go through with its takeover bid
    ** The Franco-Italian spectacles maker said it weighed
ending its 7.2 billion euro ($8.6 billion) takeover of the Dutch
eyewear store operator after the ruling  urn:newsml:reuters.com:*:nL2N2O32R5
    ** According to the Dutch court, Grandvision had breached
obligations of the takeover agreement by suspending payments to
store owners and suppliers and applying for state aid, without
seeking EssilorLuxotticas's approval
    ** Franco-Italian maker of Ray-Ban sunglasses said in a
statement it was reviewing its options in relation to the
transaction 


($1 = 0.8403 euros)

 (Reporting by Diana Mandiá)
 ((diana.mandiaalvarez@thomsonreuters.com))
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