EssilorLuxottica to acquire HAL’s 76.72% interest in GrandVision

EssilorLuxottica S.A. announced an agreement with Hal Optical Investments B.V. , a wholly-owned subsidiary of HAL Holding N.V, for the sale of HAL’s 76.72% ownership interest in GrandVision N.V. EssilorLuxottica will buy HAL’s shares for a price of Euro 28 per share, to be increased by 1.5% to Euro 28.42 if closing of the Transaction does not occur within 12 months from the announcement date. GrandVision supports the Transaction under the terms of a support agreement with EssilorLuxottica . Closing of the Transaction between EssilorLuxottica and HAL is subject to various conditions, including obtaining antitrust clearance. The Transaction is expected to close in 12 to 24 months. After the Transaction has been successfully concluded, EssilorLuxottica will launch a mandatory cash public offer for all outstanding shares in the company, in accordance with the applicable Dutch public offer rules.

For EssilorLuxottica, the combination with GrandVision will serve as a catalyst to unlock the underlying growth potential of the eyecare and eyewear industry. The activities of both companies are highly complementary. EssilorLuxottica currently operates over 10,000 stores and several proprietary online platforms with a strong presence in the Americas. GrandVision operates more than 7,200 optical stores and online platforms in more than 40 different countries with a strong presence in Europe and Latin America.

Ph. Leonardo Del Vecchio

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