On July 1, EssilorLuxottica announced that it has completed its acquisition of a 76.72% ownership interest in GrandVision from HAL Optical Investments, a wholly–owned subsidiary of HAL Holding pursuant to the block trade agreement entered into with HAL on July 30,2019. The cash purchase price is equal to Euro 28.42 per share.
As a result of the completion of the transaction contemplated by the block trade agreement, EssilorLuxottica acquired “predominant control” (overwegende zeggenschap) over GrandVision and is under an obligation to launch a mandatory public offer for all outstanding shares in GrandVision, in accordance with the applicable Dutch public offer rules. EssilorLuxottica’s objective is to delist GrandVision from Euronext Amsterdam.
EssilorLuxottica will submit the offer memorandum for the mandatory public offer with the Netherlands Authority for the Financial Markets (AFM) no later than September 23, 2021, which is the ultimate date to submit the offer memorandum with the AFM for approval under the Dutch bidding rules.