Essilor and Delfin extend the deadline of the Combination Agreement
EssilorLuxottica General Meeting to be reconvened
Milan, Italy, and Charenton-le-Pont, France, June 29, 2018 – Luxottica (MTA: LUX) and Essilor (Euronext Paris: EI), announce the extension to July 31, 2018 of the deadline of both the Combination Agreement1 and Contribution Agreement2 signed between Essilor and Delfin, Luxottica’s majority shareholder.
As of today, the Chinese competition authority has not yet approved the contemplated combination between Luxottica and Essilor, such approval being a condition precedent to the closing of the combination. The parties remain confident that they will succeed in completing the antitrust processes in China and Turkey in the coming weeks.
The first General Meeting of EssilorLuxottica shareholders which was scheduled for July 25, 2018 will be reconvened by the EssilorLuxottica’s Board of Directors for a later date to be announced as soon as possible.
1. On January 15, 2017, Essilor and Delfin entered into a combination agreement (the “Combination Agreement”) setting forth the terms of the proposed combination between Essilor and Luxottica.
2. The terms and conditions of the contribution by Delfin of its entire equity interest in Luxottica to Essilor, in exchange for new shares to be issued by Essilor, are set forth in a contribution agreement entered between Delfin and Essilor on March 22, 2017 (the “Contribution Agreement”).