EssilorLuxottica: further rejection in Amsterdam

(CercleFinance.com) - GrandVision announced on Tuesday evening that the Amsterdam Court of Appeal had rejected all requests made by EssilorLuxottica for more information about the Dutch optical retailer's handling of the Covid-19 crisis.


The decision confirms an earlier decision by the district court in August 2020, the group said in a brief statement.

However, GrandVision points out that the arbitration procedure initiated against EssilorLuxottica last July - a procedure that is separate from the case that was decided yesterday - is ongoing.

Last month, the European Commission authorised EssilorLuxottica's proposed acquisition of GrandVision, subject to the sale by the eyewear giant of around 350 optical shops in Belgium, the Netherlands and Italy.

EssilorLuxottica said at the time that the outcome of the transaction was dependent on approvals from the competition authorities in Chile and Turkey, as well as court rulings on ongoing proceedings.

Meanwhile, GrandVision says it continues to support the deal, with the aim of obtaining regulatory clearance by 31 July 2021.

EssilorLuxottica shares were down slightly (-0.6%) on Wednesday morning in Paris, while GrandVision shares were up slightly (+0.2%) in Amsterdam.



Copyright (c) 2021 CercleFinance.com. All rights reserved.