EssilorLuxottica: Update on the proposed acquisition of GrandVision

Picture by mohamed Hassan auf Pixabay

EssilorLuxottica confirms that on April 9,2021 the Chilean market regulator FNE (Fiscalía Nacional Económica) cleared the acquisition of GrandVision following the commitment to divest GrandVision’s Chilean operations under the banner Rotter YKrauss.GrandVision’s Chilean operations will be sold to HAL in accordance with the terms of the block trade agreement entered into by HAL and EssilorLuxottica on July 30,2019.
The carveout is subject to and will close simultaneously with the closing of the transaction. EssilorLuxottica also acknowledged that on April 6, 2021, Amsterdam’s Court of Appeal rejected the Company’s document request, due mainly to the disclosures recently ordered in the arbitral proceedings brought by HAL and GrandVision.
EssilorLuxottica initiated legal proceedings to obtain such information from GrandVision to assess the way GrandVision has managed its business during the COVID19 crisis, as well as the extent to which GrandVision has breached its obligations under the support agreement.The closing of the acquisition of GrandVisionis still pending the sign off from the competition authorityin Turkey,as well as the decisions regarding ongoing arbitral proceedings

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