Essilor: renamed EssilorLuxottica as merger is finalised
(CercleFinance.com) - The French ophthalmic optics giant, Essilor International last night announced the finalisation of its merger with Italian eyewear group Luxottica, an deal that was originally announced in January 2017.
From today, 2 October 2018 the new group adopts the name of EssilorLuxottica. Although the share's Isin code remains the same, its mnemonic becomes 'EL' instead of 'EI'.
All the regulatory requirements have now been met, particularly regarding endorsements from different competition regulators. Delfin, the holding company of the boss and founder of Luxottica Leonardo Del Vecchio, brought Essilor its majority stake (62.4%) in the group on 1 October, which resulted in the issue of 139.7 million Essilor ordinary shares as a settlement, and raised the capital to 358.8 million shares.
On that date, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica, said the French group which is based in Charenton-le-Pont near to Paris.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
From today, 2 October 2018 the new group adopts the name of EssilorLuxottica. Although the share's Isin code remains the same, its mnemonic becomes 'EL' instead of 'EI'.
All the regulatory requirements have now been met, particularly regarding endorsements from different competition regulators. Delfin, the holding company of the boss and founder of Luxottica Leonardo Del Vecchio, brought Essilor its majority stake (62.4%) in the group on 1 October, which resulted in the issue of 139.7 million Essilor ordinary shares as a settlement, and raised the capital to 358.8 million shares.
On that date, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica, said the French group which is based in Charenton-le-Pont near to Paris.
Copyright (c) 2018 CercleFinance.com. All rights reserved.