Update on Proposed Acquisition of GrandVision by EssilorLuxottica
Friday, February 7 2020 | 12 h 46 min | Acquisitions, News, Press Release
EssilorLuxottica and GrandVision N.V. confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica.
The parties are confident that Phase II will be completed in a timely manner and will closely cooperate with the European Commission to fully demonstrate the rationale of the proposed acquisition and the benefits that it will bring to customers, consumers and all the eyewear industry players.
The companies reaffirm the shared objective to close the transaction within 12 to 24 months from the announcement date, July 31, 2019, in cooperation with the relevant authorities. The transaction has been unconditionally cleared so far in the United States, Russia and Colombia, and it is currently under review also in Brazil, Chile, Mexico and Turkey.