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EL - EssilorLuxottica SA News Story

€140 0.1  0.1%

Last Trade - 10:05am

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £52.72bn
Enterprise Value £55.77bn
Revenue £12.43bn
Position in Universe 18th / 850

EU decision on EssilorLuxottica's Dutch deal extended to Aug. 27

Fri 17th July, 2020 4:37pm
BRUSSELS, July 17 (Reuters) - EU antitrust authorities have
extended their investigation into Ray-Ban maker
EssilorLuxottica's  ESLX.PA  7.2 billion euro ($8.2 billion) bid
for Dutch opticians group GrandVision by a week to Aug. 27.
    This is the third extension since the Commission launched a
full-scale investigation on concerns that the deal could harm
competition, suggesting clearance of the takeover is conditional
on concessions from EssilorLuxottica.
    "The (European) Commission extended the deadline in
agreement with the parties," the EU competition enforcer said in
a statement.
    EssilorLuxottica, which owns the Oakley and Persol brands
and Varilux lenses, was formed last year from the merger of
French lens maker Essilor and Italian eyewear group Luxottica.
($1 = 0.8751 euros)

 (Reporting by Foo Yun Chee
Editing by David Goodman
)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
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