Essilor and Delfin (Luxottica’s 62% shareholder, controlled by the Del Vecchio family) have signed a merger agreement worth c.€46bn. The deal involves the creation of a new entity named ‘EssilorLuxottica’ with a consolidated revenue and EBITDA of c.€15bn and c.€3.5bn, respectively. Management expects €400-600m revenue/cost synergies in the mid-term. As per the agreement, Delfin will get 0.461 shares of the new entity in exchange for one Luxottica share. S
17 Jan 2017
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EssilorLuxottica SA (EI:WBO) | 0 0 1.9% | Mkt Cap: 24,290m
- Published:
17 Jan 2017 -
Author:
Nishant Choudhary -
Pages:
3
Essilor and Delfin (Luxottica’s 62% shareholder, controlled by the Del Vecchio family) have signed a merger agreement worth c.€46bn. The deal involves the creation of a new entity named ‘EssilorLuxottica’ with a consolidated revenue and EBITDA of c.€15bn and c.€3.5bn, respectively. Management expects €400-600m revenue/cost synergies in the mid-term. As per the agreement, Delfin will get 0.461 shares of the new entity in exchange for one Luxottica share. S