EssilorLuxottica sees 5% stake in Nikon as financial investment, source says
08/10/2024 11:39
MILAN, Oct 8 (Reuters) - EssilorLuxottica ESLX.PA sees
its stake of more than 5% in Japanese camera maker Nikon Corp
7731.T as a long-term financial investment to support the
company and its management, a source close to the Franco-Italian
eyewear maker said on Tuesday.
EssilorLuxottica, the maker of Ray-Ban glasses, has taken a
5.1% stake in Nikon as of the start of October, corresponding to
a 170 million euro ($187 million) investment in the Japanese
group, according to a regulatory filing and LSEG data.
WHY IT MATTERS
The investment deepens ties between the two companies, after
the eyewear maker entered into a joint venture with Nikon Corp
in 2000 for the creation of Nikon-Essilor, a wholesale lens
business entity based in Tokyo serving regional and global
customers.
($1 = 0.9101 euros)
(Reporting by Elisa Anzolin
Editing by Keith Weir)
((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))