EssilorLuxottica SA logo

EL - EssilorLuxottica SA News Story

€139.88 1.7  1.3%

Last Trade - 14/05/21

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

EU regulators extend probe into EssilorLuxottica's Dutch deal to Aug. 20

Wed 8th July, 2020 2:26pm
BRUSSELS, July 8 (Reuters) - EU antitrust authorities have
extended their investigation into Ray-Ban maker
EssilorLuxottica's  ESLX.PA  7.2-billion-euro ($8.1 billion) bid
for Dutch opticians group GrandVision by a week to Aug. 20.
    The European Commission warned the companies last month that
the deal could harm competition, people familiar with the matter
had told Reuters, suggesting that concessions might be required
in return for clearing the takeover.  urn:newsml:reuters.com:*:nL8N2DH4WB
    The Commission, the EU competition enforcer, was scheduled
to decide on the deal by Aug. 13.
    "The Commission extended the deadline in agreement with the
parties," a spokeswoman said.
    EssilorLuxottica, formed last year from the merger of French
lens maker Essilor and Italian eyewear group Luxottica, also
owns the Oakley and Persol brands and Varilux lenses.
    The acquisition would give the group control of more than
7,000 GrandVision outlets across the world.
    ($1 = 0.8853 euros)

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