Proposed combination between Essilor and Luxottica approved in China
Milan, Italy, and Charenton-le-Pont, France, July 26, 2018 – Luxottica (MTA: LUX) and Essilor (Euronext Paris: EI), announce that the antitrust regulator of the People’s Republic of China, SAMR, has approved the proposed combination between the two companies after they made certain commitments with regard to the conduct of their business in China.
Luxottica and Essilor committed to inform SAMR about their future acquisitions and also to ensure availability of their products and services to all customers in China on a fair basis. These commitments are fully aligned with the future EssilorLuxottica’s mission to “help people see more, be more and live life to its fullest” and the open business model both companies promote across the globe.
Clearance from Chinese authority was the last condition precedent to the closing of the transaction and paves the way for the combination to be finalized. The two companies are also progressing with their discussions with the Turkish antitrust authority and expect the closing of the transaction at the end of the third quarter.