MILAN: EssilorLuxottica SA agreed to buy GrandVision NV in a deal that values the smaller Dutch eyecare retailer at as much as 7.3 billion euros (US$8.1bil) and brings the Ray-Ban sunglasses brand and Vision Express prescription centres under the same roof.
The Franco-Italian company agreed to pay 28 euros a share for investment firm HAL’s roughly 77% stake. HAL is controlled by the Dutch billionaire Van der Vorm family. Following the completion of the deal, EssilorLuxottica will be obliged to make an offer for the rest of GrandVision’s shares.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
