Proposed Acquisition of GrandVision by EssilorLuxottica Investor information On 31 July, 2019 GrandVision N.V. announced that EssilorLuxottica S.A. and HAL Optical Investments B.V. have reached an agreement for the sale of HAL’s 76.72% ownership interest in … Author: Simon Jones Published: 31/07/2019. MA Healthcare Ltd By adding GrandVision, which sells prescription glasses, contact lenses and other eyecare products, EssilorLuxottica would gain more than 7,000 stores in more than 40 countries. HAL is majority-owned by the Dutch billionaire Van der Vorm family and traces its roots to the 1873 founding of the Holland America Line in Rotterdam. The transaction is subject to antitrust review and may not close until the end of 2021. Update on the proposed acquisition of GrandVision by EssilorLuxottica 46.4 KB. EssilorLuxottica Acquisition of GrandVision Moving Forward The European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. Any threat to reconsider the acquisition could put pressure on GrandVision’s owner HAL, which is controlled by the billionaire Van der Vorm family, to agree to different terms. Publié le 31/07/2019 à 11h45. Del Vecchio is EssilorLuxottica’s biggest shareholder with a 32% stake. EssilorLuxottica, the owner of Ray-Ban and other eyewear brands, has confirmed it's in negotiations to acquire a 76.7% stake in GrandVision from HAL in a move that would value the Dutch eyewear retailer at some €7.1 billion (about $8 billion). GrandVision’s proposed acquisition by EssilorLuxottica is viewed as highly problematic for independent opticians due to the risk of restricted access to lenses and frames, according to third parties who spoke to this news service. Stibbe advises EssilorLuxottica S.A. on the acquisition of a 76.7% stake in Grandvision N.V. from HAL Holding N.V., which will be followed by a mandatory offer for all shares in the company, resulting in a total transaction value of more than EUR 7 billion. It also has a $3 billion stake in Koninklijke Vopak NV and holds about $626 million worth of SBM Offshore NV. Optical superpower EssilorLuxottica has acquired HAL Holdings’ 76.72% interest in global eye care retailer GrandVision and will launch a mandatory public offer for the remaining shares when the deal has been rubber stamped. By 2020, the Group forecasts revenue growth at a constant exchange rate of 3-5%. EssilorLuxottica has agreed to buy rival GrandVision in a €7.1bn deal that will underline the Franco-Italian group’s dominance as the world’s largest eyewear maker and retailer. EssilorLuxottica is holding talks with GrandVision’s controlling shareholder, HAL, to buy the firm’s approximately 77% stake, HAL said in a statement on Wednesday in … A Valli Group practice set up a gift donation scheme over Christmas, Optometrists, professional bodies and optical suppliers share their outlook for 2021 with Yiannis Kotoulas and Andrew McClean, The company is working with Vivo, the Chinese technology company, Aberdeenshire | Excellent Competitive Salary, Nationwide | Up to £65,000 + bonus structure + company car, Swindon | Salary of up to £55,000 plus bonus scheme and benefits package, Get all the latest jobs and product news emailed to you every week, © Copyright 2021 EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision Before Bloomberg reported the takeover interest, the Dutch company’s shares had risen 9% over the past 12 months, in contrast to a 4.4% decline for EssilorLuxottica, which has a market value of 51 billion euros. EssilorLuxottica to acquire GrandVision EssilorLuxottica plans to acquire full ownership of GrandVision by acquiring HAL’s 76.72% interest and launching a … GrandVision NV surged for a second day after Ray-Ban sunglasses owner EssilorLuxottica SA began takeover talks in a deal that would value the smaller Dutch eyewear retailer at about 7.1 billion euros ($8 billion). EssilorLuxottica is holding talks with GrandVision’s controlling shareholder, HAL, to buy the firm’s approximately 77% stake, HAL said in a statement on Wednesday in response to a Bloomberg report, which was confirmed later by the French-Italian suitor. The strategic logic behind EssilorLuxottica’s proposed acquisition of GrandVision has not changed despite the litigation between the two companies, Leonardo Del Vecchio, Essilux executive chairman, told the Italian daily Il Messaggero.Del Vecchio is the founder of Luxottica and is the main shareholder of Essilux through his family holding company Delfin. GrandVision raised about 1 billion euros in its initial public offering in 2015, plugging the money into expansion plans and valuing the company at about 5 billion euros at the time. Stephan Borchert, CEO of GrandVision said: ‘The future integration of GrandVision with EssilorLuxottica brings new opportunities to GrandVision’s business, its well-established retail banners, stores, employees and all our stakeholders. The publication provides annual rankings and firm … GrandVision rose 8.8% Wednesday after Bloomberg reported the talks. An acquisition could value GrandVision at about 28 euros a share, the Schiphol-based company said in a separate statement, or about 33% higher than the stock’s closing price on Tuesday before reports of the talks emerged. GrandVision, which owns the Vision Express brand in the UK, was valued at €7.1bn. Following the Luxottica acquisition in 2018, EssilorLuxottica has now announced yet another acquisition - GrandVision - to be completed in 12-24 months. En cas de rupture de l'accord d'acquisition de GrandVision, EssilorLuxottica devrait s'acquitter d'une indemnité de 400 millions d'euros. This transaction is expected to provide value to GrandVision’s shareholders, while allowing for the acceleration of GrandVision’s growth strategy through the expansion of our store network and online platforms. Pixabay. EssilorLuxottica SA, the maker of Ray-Ban sunglasses, said it started legal proceedings in the Netherlands to obtain information from takeover target GrandVision NV on how it … EssilorLuxottica confirms GrandVision acquisition. ESSILORLUXOTTICA : acquisition de GrandVision en vue. The Franco-Italian company still sees value in acquiring GrandVision’s network of eyewear shops across Europe, according to the people, who asked not to be … that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision. The shares held in treasury (0.31%) allow GrandVision to hedge price risks related to grants made under long-term incentive plans. EssilorLuxottica is acquiring GrandVision from Dutch private equity (PE) group HAL – which holds a 76.72 percent majority stake in GrandVision – at a cash purchase price equal to €28 per share – to be increased by 1.5 percent to €28.42 if closing of the acquisition does not occur within 12 months from the announcement date (31 July 2019). After the acquisition from Hal is successfully completed, EssilorLuxottica will launch a mandatory cash public offer for all remaining shares in GrandVision. With the deal, EssilorLuxottica will expand its optical retail platform, primarily in Europe, by adding more than 7,200 stores globally, an extra 37,000 employees and additional €3.7bn in annual revenue. EssilorLuxottica's $8.1bn acquisition of a 77% stake in GrandVision faces EU probe. EssilorLuxottica/GrandVision harmful to independent opticians 09 August 2019 - 10:34 am UTC GrandVision’s proposed acquisition by EssilorLuxottica is viewed as highly problematic for independent opticians due to the risk of restricted access to lenses and frames, according to third parties who spoke to this news service. CHARENTON-LE-PONT, France— EssilorLuxottica (Reuters: ESLX.PA) announced today that it will significantly expand its retail footprint through an agreement with Hal Optical Investments B.V., a wholly-owned subsidiary of HAL Holding N.V. to acquire HAL’s controlling interest in GrandVision, a global optical retail powerhouse with over 7,200 stores worldwide, over 37,000 employees and €3.7 billion in … Update on the proposed acquisition. EssilorLuxottica’s Acquisition of Hal Optical Investments B.V.’s 76.72% Interest in GrandVision August 21, 2019 July 8, 2020 Paolo Bossi Latham & Watkins and Herbert Smith Freehills are advising EssilorLuxottica in the transaction. Schiphol, the Netherlands - 6 February 2020. EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. 31 July 2019: Add Files. Shares of GrandVision jumped as much as 10% Thursday, reaching 25.30 euros, their highest level since September 2016. GrandVision agreed to a purchase price of at least 28 euros in July 2019. Shareholder structure and proposed acquisition by EssilorLuxottica. - We think the acquisition is in line with the group's strategy and will strengthen its retail activities in Europe. Furthermore, it will create a truly global eyecare and eyewear company that is ideally positioned to capture changing consumer needs and behaviors, and provide its customers with a high quality optical omni-channel customer experience. Update on the proposed acquisition of GrandVision by EssilorLuxottica. EssilorLuxottica intends to acquire full ownership in GrandVision to create a truly global eyecare and eyewear company. (PRESS RELEASE) CHARENTON-LE-PONT, FRANCE, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. Update on the proposed acquisition of GrandVision by EssilorLuxottica. Optical superpower EssilorLuxottica has acquired HAL Holdings’ 76.72% interest in global eye care retailer GrandVision and will launch a mandatory public offer for the remaining shares when the … GrandVision supports EssilorLuxottica in acquiring HAL's 76.72% interest in GrandVision 98 KB. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) The IFLR1000's financial and corporate law rankings for EssilorLuxottica €7.3 billion acquisition of GrandVision . Proposed Acquisition of GrandVision by ... GrandVision and EssilorLuxottica have agreed that any related party transactions that are not in the ordinary course or at arm's length terms, require the affirmative vote of at least one independent member of the Supervisory Board of GrandVision. EssilorLuxottica intends to acquire full ownership in GrandVision to create a truly global eyecare and eyewear company EssilorLuxottica to acquire HAL's 76.72% interest in GrandVision at a cash purchase price equal to Euro 28 per share – to be increased by 1.5% to Euro 28.42 EssilorLuxottica Takes Acquisition Target to Court The eyewear giant wants information on how GrandVision has managed during the crisis. EssilorLuxottica’s interest in GrandVision comes only two months after the company defused a leadership dispute that weighed on its shares. EssilorLuxottica has reached an agreement with Hal Optical Investments B.V.(HAL), a wholly-owned subsidiary of HAL Holding N.V, for the sale of HAL’s 76.72% ownership interest in GrandVision N.V., an optical retailer with 7,200 locations around the globe.Earlier this month, the company announced it was “in talks” with HAL about the acquisition. The shares held in treasury (0.31%) allow GrandVision to hedge price risks related to grants made under long-term incentive plans. GrandVision operates under retail brands including Brilleland and For Eyes. EssilorLuxottica, the lenscrafter behind Ray-Ban, Oakley, and 30+ other glasses brands, reportedly could abandon its $8.8 billion acquisition of eyewear retailer GrandVision.. How we got here: EssilorLuxottica first revealed plans to buy the majority stake in GrandVision in summer 2019, or twenty light years ago, to expand its global footprint. 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