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EssilorLuxottica in discussions over purchase of controlling stake in Grandivsion
Grandvision Confirms HAL And EssilorLuxotica Are In Discussions On Sale Of Controlling Interest In Grandvision
EssilorLuxottica Considering Takeover Of Smaller Dutch Retailer Grandvision - Bloomberg Reporter Tweet
EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. The Company designs, manufactures and markets a range of lenses, frames and sunglasses to improve and protect eyesight. It also develops and markets equipment for prescription laboratories and instruments, and services for eye care professionals. It operates through three segments: Lenses and Optical Instruments, which includes corrective lenses, optical instruments intended for opticians and optometrists; Equipment, which includes machines and consumables used by plants and prescription laboratories, and Sunglasses & Readers, which encompasses non-prescription reading glasses and non-prescription sunglasses. The Company operates under a number of brands, including Ray-Ban, Oakley and Varilux, among others. The Company operates in Europe, North America, Asia Pacific, the Middle East, Africa and Latin America.
Medical Equipment & Supplies
147 rue de Paris
Leonardo Del Vecchio
Executive Chairman of the Board
Executive Vice Chairman of the Board
Co-Chief Financial Officer
Co-Chief Financial Officer
Chief Integration Officer
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Third Point LLC, the U.S. hedge fund that has pushed for changes at companies ranging from Nestle SA <NESN.S> to Campbell Soup Co <CPB.N>, has amassed a stake in Ray-Ban maker EssilorLuxottica SA <ESLX.PA>, people familiar with the matter said on Sunday.
EssilorLuxottica <ESLX.PA> is buying Dutch opticians group GrandVision <GVNV.AS> for up to 7.2 billion euros ($8 billion) in cash to take control of thousands of stores where it sells spectacles and lenses.
EssilorLuxottica said it would buy a 76.72% stake in Dutch optical retailer GrandVision, and the company also posted stronger second-quarter results and confirmed its 2019 targets on Wednesday.
Dutch optical retailer GrandVision NV <GVNV.AS> said on Wednesday it was approached by EssilorLuxottica SA <ESLX.PA> and HAL Holding NV for a possible transfer of HAL's majority stake in the company to the French eyewear group.
EssilorLuxottica's shareholders have rejected the appointment of two new independent directors to the board of the Franco-Italian eyewear group, raising fresh doubts over whether a management crisis has been resolved.
EssilorLuxottica's shareholders rejected on Thursday resolutions aimed at appointing two new independent directors at the board of the Franco-Italian eyewear group.
EssilorLuxottica declared an end to a feud between its French and Italian partners on Monday, saying it would drop all legal proceedings and focus on integrating the eyewear group formed by last year's 54 billion euro (47 billion pounds) merger.
Eyewear group EssilorLuxottica said it had resolved a dispute between its feuding French and Italian partners, and would push on in its search for a new chief executive and its aims to centralise various new corporate functions.
Eyewear group EssilorLuxottica's feuding French and Italian partners are close to signing a peace deal to end a boardroom dispute over the group's leadership that threatened to pull it apart, France's Les Echos business daily reported on Sunday.
EssilorLuxottica posted higher first-quarter sales and maintained full-year targets on Tuesday, just days ahead of an annual meeting where minority investors are expected to voice their frustration over a leadership row at the company.
EssilorLuxottica said on Tuesday it has kept its full-year outlook unchanged after posting upbeat first-quarter sales, although some concerns remain among investors over the future of governance at the world's largest eyewear maker.
EssilorLuxottica's investor Legal & General Investment Management (LGIM) said it was very worried about a boardroom dispute at the recently merged eyewear giant, and would back a proposal to name three new directors in the hope of resolving the row.
The board of directors at EssilorLuxottica, which is in the midst of a power tussle, said it had voted against recent proposals to appoint new board members to help resolve its governance issues.
Valoptec International which represents employees and former employees of Ray Ban maker EssilorLuxottica has proposed the appointment of an additional independent director to the group's board in a bid to resolve governance issues.
French-Italian eyewear group EssilorLuxottica has hired two headhunters to search for a new chief executive officer in a bid to cool a conflict between its French and Italian partners over leadership of the company.
French-Italian eyewear group EssilorLuxottica said on Wednesday its nomination and compensation committee had started the search for a new chief executive officer with the help of two headhunting firms.
Disagreements at the helm of French-Italian group EssilorLuxottica do not pose a risk for the merger that created the world's biggest spectacles and lens manufacturer, independent board director Gianni Mion said.
A row over who is in charge at Ray-Ban maker EssilorLuxottica could drag on for two years or more after the recently merged group's executive chairman filed an arbitration request after alleged violations of a power-sharing agreement.
EssilorLuxottica's shares fell on Thursday after the eye-wear company's top shareholder and executive chairman filed an arbitration request to verify alleged violations of its merger agreement, escalating a dispute over power sharing.
The top shareholder and executive chairman of EssilorLuxottica has filed an arbitration request to verify alleged violations of a merger agreement between the Italian and French groups, further escalating a spat over power sharing.
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