essilor and luxottica announce merger

The two companies are expected to announce the proposed merger before the European stock markets open tomorrow. No stranger to large-scale acquisition, EssilorLuxottica itself is a result of the €46bn merger of Italy’s Luxottica Group SpA and France’s Essilor International SA in 2017. Luxottica also makes sunglasses and prescription frames for designer brands such as Chanel, Prada, Giorgio Armani, Burberry, Versace, Dolce and Gabbana, Miu Miu and Tory Burch. Essilor and Luxottica have announced a merger in Europe. At the first general meeting of the new group, on November 29, he behaved as if Essilor had bought Luxottica. Luxottica's merger helps Del Vecchio manage family risks, Luxottica and Essilor confirm plans to merge companies. Luxottica also makes sunglasses and prescription frames for designer brands such as Chanel, Prada, Giorgio Armani, Burberry, Versace, Dolce and Gabbana, Miu Miu and Tory Burch. By Vision Monday Monday, January 16, 2017 12:15 AM. Additional reporting by Gianluca Semeraro and Claudia Cristoferi in Milan; Writing by Silvia Aloisi; Editing by David Goodman. Del Vecchio, who returned to the helm of Luxottica two years ago after taking a back seat for the previous 10 years, will be CEO and executive chairman of the merged group. Luxottica. 4 Sep 2020. Luxottica’s third-quarter results had showed revenue from its online platforms grew by 18 percent, with the company stating that e-commerce had been targeted as an area for accelerated growth in 2017. F: 020 7251 8315, Company registered in England and Wales - number 404790, The Association of Optometrists is authorised and regulated by the Financial Conduct Authority (FCA) - reference number 313444, Website terms and conditions PARIS and MILAN—Two optical giants, Luxottica (NYSE:LUX) and Essilor (Reuters: ESSI.PA), have agreed to merge in a mega deal that would reshape the international eyewear industry, according to reports published tonight in the Financial Times, Reuters and other financial sites. Sagnieres, 61, will serve as executive vice-chairman and deputy CEO, but he and Del Vecchio will have the same powers. Shares in Luxottica were up by 8.6 percent at 53.80 euros by 1405 GMT (9:05 a.m. Essilor Advisors: Rothschild, Citi . The group will be co-led by Luxottica’s Del Vecchio and Essilor’s Sagnieres, the former as Chairman and CEO and the latter as Vice Chairman and Deputy CEO but “with powers equal to Del Vecchio’s”. And sadly, so will the myopic Indies amongst us. Update on legal proceedings to obtain information from HAL and GrandVision. The Italian company’s equity is valued at €22.79bln, based on the previous exchange ratio and on the Essilor share price of €102.1 and 484.16 million Luxottica shares outstanding. PARIS and MILAN—Plans for a mega merger of Essilor [Euronext Paris: EI] and Luxottica [MTA: LUX; NYSE: LUX], two global giants of the eyewear industry, were announced today by Essilor and Delfin Sarl, the Luxembourg based holding company of the Del Vecchio family, the majority owners of Luxottica. “Finally ... two products which are naturally complementary -- namely frames and lenses -- will be designed, manufactured and distributed under the same roof,” Luxottica’s 81-year-old founder Leonardo Del Vecchio said in a statement on Monday. Chairman of Delfin and executive chairman of the Luxottica Group, Mr Del Vecchio, said: “With this agreement, my dream to create a major global player in the eyewear industry, fully integrated and excellent in all its parts, finally comes true. European Commission - Press release Brussels, 1 March 2018 The European Commission has approved under the EU Merger Regulation the proposed merger between Essilor and Luxottica, two leaders in the optical industry. The merger between the top players in the 95 billion eyewear market is aimed at helping the businesses to take full advantage of expected strong demand for prescription spectacles and sunglasses due to an aging global population and increasing awareness about eye care. The combined entity would command more than one quarter of global value sales of eyewear. Mediobanca advised Delfin on the merger, with Essilor advised by Rothschild and Citi. EssilorLuxottica brings together two pioneering and complementary global players with pro forma combined revenues in excess of AU$25 billion, nearly 150,000 employees and an unmatched global … have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. The combination appears as a genuine merger of equals, with both companies’ EV being in the range of €26-27bn. had revenue of 3.2 billion euros and 1.3 billion euros respectively in 2015. You must be logged in to join the discussion. ... Essilor and Luxottica announce a €46bn merger. Luxottica said in September 2014 that discussions had taken place in 2013 but were dropped for a number of reasons, including shareholding governance issues. This now allows the group to control all aspects of supply of product – from manufacture to the end user. The companies completed their merger in October. Shares of Luxottica closed up 8.25% at 53.65 euros in Paris trading after the announcement, while Essilor shares closed 11.85% higher at 114.20 euros in Paris. PDF 0.33MB. Essilor has scale advantages, and there continues to be significant potential to grow and create value through consolidation. The companies completed their merger in October. 62%) to Essilor in return for newly issued Essilor shares, at an exchange ratio of 0.461 Essilor shares for each Luxottica share. This means that the merger would strengthen Luxottica’s product design process, back-end production and … How it will affect the Australian and New Zealand market is uncertain. Essilor and Luxottica are to become one after a merger was approved by shareholders in Paris on May 11, 2017. Another nail in the coffin of independent optometry in the U.K. Essilor buys Luxottica for $24Bn In reading the Bloomberg’s article on the topic, the transaction does look like a merger rather than a takeover. Charenton-le-Pont, France and Milan, Italy (November 28, 2017 – 8:00 a.m.) – Essilor (Euronext Paris: EI) and Luxottica (MTA: LUX) today announced the proposed combination between the two companies has been cleared by the Canadian Competition Bureau. It will also leave smaller rivals lagging even further behind. Independent practice owner and AOP councillor for the East Midlands, Tushar Majithia, told OT: “It is worrying that one company will have such a dominant position in the industry.”. Video: Luxottica and Essilor agree €50bn merger Finally, there is the nagging question of who will really run the merged company. It will also leave smaller rivals lagging even further behind. Lex’s Jonathan's Guthrie and Alan Livsey discuss the €50bn merger between Luxottica, the leading consumer eyewear group and owner of Ray-Ban, Oakley and Sunglass Hut, and Essilor… The merger means Essilor lenses and Luxottica frames will be designed, manufactured, distributed and retailed by a global corporation using a … Read more about Essilor and Luxottica Announce Merger; Luxottica Debuts the Prada Minimal Baroque Collection. The combined company, which should have an estimated market value of about €47bn (pre-synergies), will be a global leader in the €90bn fast-growing eyewear industry. This includes updates from optical organisations such as the AOP and the GOC, News and in-depth features about business management and career development in optics, Explore the latest UK and global jobs in the optical sector for optometrists, dispensing opticians and more, A global eyewear giant is being created ‘to answer the growing needs in visual health and the appetite for premium branded products’. Initiating firm: Essilor. Another independent practice owner, and AOP councillor for London, Gordon Ilett, said: “My view is that this merger completes the missing piece in the vertically integrated, global business model of the Luxottica Group. Essilor and Luxottica Merger - Official Press Release January 16th 2016. According to the terms of the deal, Delfin will contribute its entire stake in Luxottica (approx. Approached firm: Luxottica. Both companies have been grappling with slowing sales growth, hit by weakness in North America, and face rising competition from cheaper rivals and the challenge of online distribution. MILAN/PARIS (Reuters) - Italy's Luxottica. essilor luxottica merger, We sat down with Dr. Purcell at last week’s Transitions Academy to discuss the other side of the picture. The transaction, announced in January, will be one of biggest cross-border deals ever completed in Europe, and will create an industry powerhouse with annual revenue of more than €15bn. The merger with Luxottica creates an opportunity to invest in an emerging global leader that over the next 5-25 years should become on par with other global leaders in their industries. Update on legal proceedings to obtain information from GrandVision. According to the terms of the deal, Delfin will contribute its entire stake in Luxottica (approx. While the deal is not technically a case of vertical integration, Essilor’s R&D spendings are roughly 10,000x greater than Luxottica’s, which only total $24,000. 62%) to Essilor in return for newly issued Essilor shares, at an exchange ratio of 0.461 Essilor shares for each Luxottica share. Luxury eyewear specialists, Italian frame manufacturer Luxottica Group and French optical lens producer Essilor International, have announced that they are to merge in an all stock deal worth $49bn. The merger would combine Essilor with Luxottica… A source close to the deal said no arrangements had been made at this stage for when Del Vecchio will retire. Essilor and Luxottica have successfully combined to create EssilorLuxottica, a global leader in the eye care and eyewear industry, according to a press release issued by the combined company today. Delfin will contribute its 62 percent stake in Luxottica at a ratio of 1 share in the Italian group for every 0.461 Essilor shares. According to the terms of the deal, Delfin will contribute its entire stake in Luxottica (approx. He broke the pact signed in 2017,” added the Luxottica boss. Cookie policy January 16, 2017 – 6.45 a.m CET – Essilor and Delfin today announce the signing of an agreement designed to create an integrated player dedicated to visual health and superior consumer experience through a combination of Essilor [Euronext Paris: EI] and Luxottica … Luxottica, which owns the Ray-Ban, Persol and Oakley brands, agreed in January 2017 to merge with Essilor in a deal that would create a company with a combined market value of about 46.3 billion euros ($56.6 billion). E: [email protected] Essilor has a 13 percent share. The deal also removes -- for now at least -- uncertainty over succession at Luxottica, which has lost three CEOs since 2014 because of rifts with Del Vecchio. Luxottica, Owner of Ray-Ban, in $49 Billion Merger With Essilor A technician for Essilor making lenses at a factory in France. Essilor Luxottica Merger is COMPLETE October 1, 2018 What was first announced in January of 2017—that Essilor and Luxottica planned to merge—has finally come to completion, with both optical giants revealing today the successful completion of the corporate combination. Mergers: Commission clears merger between Essilor and Luxottica. If we really want to provide consumers with the best product, Leonardo and I will have to co-manage,” Sagnieres said. On January 16, 2017, the Parties announced the proposed full merger of their respective businesses (the “Transaction”). Submitted on Tuesday, December 6, 2016 - 1:07pm Prada celebrates its most iconic sunglasses which were originally born on the Prada runway and updated to create this new special collection, Prada Minimal Baroque. ET), with Essilor up 12.2 percent at 114.60 euros. It will also have a complex governance structure, with Del Vecchio and Essilor Chairman and CEO Hubert Sagnieres effectively sharing the driving seat, while the 16-strong board will have an even split of Essilor and Luxottica executives. Essilor and Luxottica have assured the world that it will be ‘business as usual’ for the foreseeable future following an announcement that the two giants of eye care would merge. The transaction, announced in January, will be one of biggest cross-border deals ever completed in Europe, and will create an industry powerhouse with annual revenue of more than €15bn. The announcement was made by Mark Zuckerberg during Facebook Connect, an annual conference held virtually from California. Though advisers on the deal have presented it as a merger of equals, Del Vecchio will be the biggest shareholder of the combined group with a stake of between 31 percent and 38 percent through his family holding company Delfin. Essilor International SA said it has reached a share exchange deal with Luxottica’s main shareholder, Delfin, to create a combined eyewear giant that will … It is said that the new group will combine two major global players in the eyewear industry with a strong brand portfolio, global distribution capabilities and complementary expertise in ophthalmic lenses, prescription frames and sunglasses. French optical lens manufacturer Essilor International and Italian frame maker Luxottica Group announced plans for a $50 billion merger last week, … The deal is expected to close by the end of the year and Del Vecchio said he is confident there will be no problems gaining approval from competition authorities. “However, both companies rely on supplying high-margin premium products and I do not believe that it is in their interests to offer these in an online competitive market.”, He concluded: “With this in mind, I am sure that they will want to continue to work closely with independent practices like ourselves. 17 Aug 2020. These combined offers provide the advantage This publication does not announce … The Essilor Luxottica merger is the largest in the history of global eye care – exceeding the value of the Alcon Novartis merger by about four times with a combined market capitalisation of almost AU$65 billion. The deal is a merger of equals, meaning that is it is unclear who is the dominant party, and who is to provide the greatest synergies to the new entity. “Whether the UK market share, following this merger, is sufficient for examination by the competition authorities is open to debate, but the effect of it will be reduced choice for the consumer and most likely, reduced quality products longer term,” he concluded. The all-share deal is one of Europe’s largest cross-border tie-ups and brings together Luxottica, the world’s top spectacles maker with brands such as Ray-Ban and Oakley, with leading lens manufacturer Essilor. Privacy policy, Marcolin sets out Spring/Summer 2021 trends, C-76296 | Visual fields in neuro-ophthalmic disease, “I have been able to translate theory into practice”, The ACUVUE for Astigmatism Fitting Calculator, Eye Health Clinic Manager | The School of Medicine, Optical practices in England can remain open in Tier 4, Government confirms, UK surgeon finds 27 missing contact lenses in woman’s eye, Optometrists invited to help deliver COVID-19 vaccines, Luxexcel hits milestone with 50,000 3D printed lenses, Essilor achieves a world record with its new Special Lenses range, EssilorLuxottica announces leadership reshuffle, Essilor and Luxottica announce a €46bn merger. Being a relatively recent announcement, there is still much speculation about the merger and opinions about its likely impact vary. Since their impending merger was announced in January, there has been remarkably little comment about the huge proposed deal to combine Essilor and Luxottica. The deal will be a stock-for-stock merger with an exchange of 0.461 Essilor Shares for 1 Luxottica share. The combination appears as a genuine merger of equals, with both companies’ EV being in the range of €26-27bn. Essilor and Luxottica Merge, New Holding to Begin Trading in Paris on Oct. 2 The newly formed EssilorLuxottica will launch a mandatory exchange offer … Essilor Luxottica Merger is COMPLETE October 1, 2018 What was first announced in January of 2017—that Essilor and Luxottica planned to merge—has finally come to completion, with both optical giants revealing today the successful completion of the corporate combination. Dutch retailer GrandVision. ... Essilor said the merger … Essilor and Delfin have announced the signing of an agreement that is designed to create an eyewear giant “dedicated to visual health and a superior consumer experience” by combining Essilor and the Luxottica Group. January 16, 2017 – 6.45 a.m CET – Essilor and Delfin today announce the signing of an agreement designed to create an integrated player dedicated to visual health and superior consumer experience through a combination of Essilor [Euronext Paris: EI] and Luxottica … Paris (AFP) - French lensmaker Essilor has agreed to buy Italy's luxury eyewear maker Luxottica in a bid to create a new global giant in the sector, the two groups announced Monday. Essilor and Luxottica announced that the European Commission has initiated a phase 2 review of their proposed merger, according to a joint press release. French lens maker Essilor International and Italian eyewear company Luxottica Group have completed their €48 billion merger to create one of the largest players in the eyewear industry. 25 Aug 2020. The transaction will enable the combined group to better seize opportunities arising from the strong demand in the eyewear market, which are driven by the increasing need for corrective and protective eyewear and the appetite for strong brands, according to a press statement released today (16 January). Following the contribution by Delfin, at the time the majority shareholder of Luxottica, of its 62.42 percent stake in Luxottica to Essilor on Oct. 1, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica. The 45 billion euro (US $47.8 billion) deal was set to be announced on Monday prior to the opening of the market, according to the news agency, which cited "a source with knowledge of the matter." Essilor and Luxottica have complementary businesses that provide the opportunity to offer customers combined solutions including Essilor's lenses and Luxottica's frames, thereby driving the value of their products. Essilor and Luxottica plan to continue discussions through the end of 2017. Following the contribution by Delfin, at the time the majority shareholder of Luxottica, of its 62.42 percent stake in Luxottica to Essilor on Oct. 1, Essilor became the parent company of Luxottica and was renamed EssilorLuxottica. Mr Majithia explained: “The biggest concern for most optical practices is that there will be a real shift to focus and drive growth of the online business, especially given Essilor’s recent acquisitions in this area. The combination appears as a genuine merger of equals, with both companies’ EV being in the range of €26-27bn. Essilor and Delfin, the majority shareholder of Luxottica, entered into a combination agreement to establish a permanent, single economic management of the businesses currently operated by Essilor and Luxottica. The new business, with annual sales worth almost €16bn, more than 140,000 employees and sales in over 150 countries, is expected to provide a growth platform “ideally positioned to seize future opportunities.”. Essilor brings 168 years of innovation and industrial excellence in the design, manufacturing and distribution of ophthalmic and sun lenses.”, Mr Sagnières claimed that: “By joining forces today, these two international players can now accelerate their global expansion to the benefit of customers, employees and shareholders, as well as the industry as a whole.”. A source close to the deal said that the two companies’ business models, operations and strategy have converged since then and that the merger makes more sense now, given growing competition. PARIS and MILAN—Plans for a mega merger of Essilor [Euronext Paris: EI] and Luxottica [MTA: LUX; NYSE: LUX], two global giants of the eyewear industry, were announced today by Essilor and Delfin Sarl, the Luxembourg based holding company of the Del Vecchio family, the majority owners of Luxottica. Essilor is buying the majority 62% stake of Luxottica, which is owned by Italian billionaire Leonardo Del Vecchio and his family, before moving to acquire the rest under takeover rules. The Essilor Luxottica merger is the largest in the history of global eye care – exceeding the value of the Alcon Novartis merger by about four times with a combined market capitalisation of almost AU$65 billion. The multiples will continue to sell Luxottica brand frames - they have to because all the other multiples do - the following sheep thing... Essilor lenses will continue to be sold by both multiples and the idiot Independents who still think Essilor is on their side. Luxottica, which owns the Oakley and Ray-Ban brands, currently has a 14 percent market share of the eyewear industry. Why the $49 billion merger of eyewear giants Luxottica and Essilor worries some antitrust experts Published Sat, May 18 2019 7:00 AM EDT Updated Sat, May 18 2019 6:59 AM EDT Karin Shedd Study and gain CET points through OT’s online CET exams, and access archived CET, CPD articles and skills guides in our education library, News and features about the latest scientific developments and advances in optometry, ophthalmology and eye medicine, News and features about the latest developments in optics with a focus on industry, News and features about the latest developments relating to professional support from across optics. Luxottica Advisors: Mediobanca. Our Standards: The Thomson Reuters Trust Principles. Jefferies analysts estimate that the market is growing at between 2 percent and 4 percent a year, while Luxottica and Essilor say that at least 2.5 billion people in the world still suffer from uncorrected vision problems. Under the terms of the agreement, 81-year-old Mr Del Vecchio (pictured right) will run the combined group, to be named EssilorLuxottica. Essilor & Luxottica Merger January 17, 2017 10:49 AM | Anonymous. It’s early days and we are looking for further assurances on their long-term strategy.”. The partnership will combine Facebook apps and technologies, Luxottica’s category leadership and iconic brands, and Essilor’s advanced lens technology to help people stay better connected to their friends and family. Canada is one of the five jurisdictions where antitrust approvals are a condition precedent to the closing of the transaction. On January 16, 2017, the Parties announced the proposed full merger of their respective businesses (the “Transaction”). See here for a complete list of exchanges and delays. Essilor said it had reached an agreement with Luxottica's owners for an all-share deal to combine the two lens companies. Luxottica and Essilor, which have a market value of about 24 billion euros and 22 billion euros respectively, had explored a possible tie-up a few years ago. Facebook and EssilorLuxottica Announce Collaboration for Smart Glasses. January 16, 2017 Luxottica and Essilor are planning a merger, Reuters reports.. Dr. Purcell is the OD voice at the table during these merger discussions, and we do know the total impact of the merger is still in the works. Read and download Luxottica Press Releases from 2005 and on. In a conference call with analysts, the two sought to play down concerns over the co-leadership. Essilor and Delfin, the majority shareholder of Luxottica, entered into a combination agreement to establish a permanent, single economic management of the businesses currently operated by Essilor and Luxottica. Both companies' share prices rose following the news. Just watch the Online retailers take over market share by flooding the market place with cheap Designer brands glazed with Essilor lenses - you know, those ones you see on every High Street of every town for hundreds of £s more. The combined entity would command more than one quarter of global value sales of eyewear. The Essilor and Luxottica merger: These are two of the biggest firms in the lucrative international business of making spectacles. France’s Essilor, the biggest manufacturer of lenses, agreed a €50bn merger with Italy’s Luxottica, ... on November 29, he behaved as if Essilor had bought Luxottica. Essilor buys Luxottica for $24Bn In reading the Bloomberg’s article on the topic, the transaction does look like a merger rather than a takeover. Watch more: Top vaccine makers Merck and … MILAN/PARIS (Reuters) - Italy's Luxottica LUX.MI and France's Essilor ESSI.PA have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. The merged EssilorLuxottica will have 140,000 staff and will be headquartered and listed in Paris. However, as the deal is still pending conditions may vary. “The strategic rationale is strong,” JPMorgan Cazenove analysts said in a note, adding that the deal defuses the risk of growing competition between two groups that had been encroaching on each other’s areas of expertise in recent years, with Essilor buying online retailers and Luxottica investing in lens manufacturing. Del Vecchio, who grew up as an orphan but is now Italy’s second-richest person, said he had long dreamed of such a merger. The concern rose in 2017, when Luxottica announced a merger with the French lenses manufacturer Essilor worth $49 billion. T: 020 7549 2070 On January 16, 2017, Italy-based eyewear leader Luxottica SpA and French lensmaker Essilor International SA announced one of the largest cross-border mergers ever in Europe. Delfin’s shareholders are Del Vecchio’s six children and his second wife. The two companies announced a … When Spring rolled around, the two new partners declared that the moniker EssilorLuxottica had been approved by its newly-created Board of Directors. “Much of this supply chain will be controlled directly by the Luxottica Group, and those businesses that remain as its customers will be indirectly controlled by the terms and conditions imposed by it. In January 2017, Luxottica announced a merger with Essilor. Analysts said that Essilor shareholders are getting a good deal because the share exchange ratio implies a 5 percent discount to Luxottica’s closing price on Friday, which was down 27 percent from its 2015 peak. Essilor's chairman and chief executive, Hubert Sagnières, (pictured left) will become his deputy. “The marriage between two key companies in their sectors will bring great benefits to the market, for employees and mainly for all our consumers. Essilor and Luxottica Marriage Approved By Daniel Feldman, October 1, 20 LUXEMBOURG and CHARENTON-LE-PONT, France—Twenty months after announcing the biggest deal in optical industry history,Delfin S.a.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International have completed the combination of Essilor and Luxottica. The third-quarter e-commerce growth far exceeded that for overall sales, which rose by 1.4 percent at constant exchange rates. Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. But there certainly should be. Francesco Milleri, originally of Luxottica, will become chief executive with Paul du Saillant, of Essilor, stepping up as deputy CEO, the group said, until its shareholder meeting in 2021. ", However, the reaction from the profession is not so positive. The French lens maker will launch a mandatory exchange offer on all remaining Luxottica shares at the same ratio, with the aim of delisting Luxottica’s shares. MILAN, Italy — Italy's Luxottica said on Friday that Chief Executive Massimo Vian would leave, as Chairman Leonardo Del Vecchio prepares the eyewear group he founded for a planned merger with France's Essilor. Essilor International’s Special Meeting and Combined General Meeting at the Maison de la Mutualité in Paris, led by chair and CEO Hubert Sagnières and alongside Luxottica executive chair Leonardo Del Vecchio, saw the transaction finalized with widespread approval. “This marriage will take place and will work,” he said. All quotes delayed a minimum of 15 minutes. PDF 0.03MB. France’s Essilor is the world’s number one manufacturer of lenses and contact lenses, while Italy’s Luxottica is the leading frame manufacturer. PDF 0.13MB. Estimated value: $54 Bn (including net debt) Announcement: January 2017. Italy's Luxottica and France's Essilor have agreed a €46 billion ($65 billion) merger deal to create a global powerhouse in the eyewear industry. In January 2017, Luxottica announced a merger with Essilor. The merger is expected to boost operating profit by up to 600 million euros in the medium term, the companies said. PARIS and MILAN—Plans for a mega merger of Essilor [Euronext Paris: EI] and Luxottica [MTA: LUX; NYSE: LUX], two global giants of the eyewear industry, were announced today by Essilor and Delfin Sarl, the Luxembourg based holding company of the Del Vecchio family, the majority owners of Luxottica. While Asia and Latin America are seen by the companies as potential growth markets, e-commerce will also be a top priority. Finally, after 50 years, two products which are naturally complementary, namely frames and lenses, will be designed, manufactured and distributed under the same roof. Log in. Use our search feature to retrieve official announcements and news from the Group. The French eyewear company Essilor and the Italian eyewear Luxottica announced Monday a 46 billion euros ($49 billion) merger deal and the merger will create a … 62%) to Essilor in return for newly issued Essilor shares, at an exchange ratio of 0.461 Essilor shares for each Luxottica share. The source said the tie-up had been agreed in the past six weeks. And still the Multiples will support this Behemoth to be the detriment of all. Essilor and Delfin have announced the signing of an agreement that is designed to create an eyewear giant “dedicated to visual health and a superior consumer experience” by combining Essilor and the Luxottica Group. 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