Based on a preliminary analysis, the combined group is expected to progressively generate revenue and cost synergies ranging from €400 million to €600 million in the medium term and accelerating over the long term. Allied Health Third Point LLC, the U.S. hedge fund that has pushed for changes at companies ranging from Nestle to Campbell Soup, has amassed a stake in … It is also the aim of Investor Relations to stimulate the interest of the financial community through targeted initiatives, including conference calls and webcasts to discuss the EssilorLuxottica’s results, investor and sell side meetings throughout the year at the major financial centers and, periodically to hold an "investor day". It markets its products in more than 100 countries and has 32 plants, 490 prescription laboratories and edging facilities, as well as five research and development centers around the world. The firm had even hired headhunters to find external candidates. Mediobanca advised Delfin on the merger, with Essilor advised by Rothschild and Citi. The dates below are given for information purposes only and may be modified. Essilor Luxottica Investor & Analyst Conference Call Page | 1 16.01.2017 Essilor Luxottica Investor & Analyst Conference Call Monday, January 16, 2017 ... Chairman of Delfin and Executive Chairman of Luxottica Group. Submit. Essilor and Luxottica are highly complementary businesses due to minimal overlap in ophthalmic lenses (Essilor) and sunglasses/frames (Luxottica). 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. October 1, 2018. Investor Relations. The marriage between two key companies in their sectors will bring great benefits to the market, for employees and mainly for all our consumers. The world's leading ophthalmic optics company, Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. An integration committee would be implemented to ensure smooth and successful integration of the two companies. Luxottica is a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear. On January 16, 2017, the Parties announced the proposed full merger of their respective businesses (the “Transaction”). had revenue of 3.2 billion euros and 1.3 billion euros respectively in 2015. 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. : +39 (02) 8633 4870. “As soon as the first general assembly of the new group on Nov. 29, he behaved as if Essilor had bought Luxottica. Consult the Luxottica Annual Report and Publication archive, with information about our financial perfomance since 2003. 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. 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. Closing expected in H2 2017, subject to satisfaction of all conditions, to be followed by EssilorLuxottica’s mandatory exchange offer for all remaining issued and outstanding Luxottica shares. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. MILAN/PARIS (Reuters) - Italy's Luxottica. For currently open merger cases follow this link open merger cases. Investor Relations & Corporate Communications. However, as the deal is still pending conditions may vary. Join the 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. All files can be downloaded as pdfs. Essilor Luxottica Merger is COMPLETE. It will also leave smaller rivals lagging even further behind. But for the manufacturers such as Essilor and Luxottica, it is a stonkingly profitable business. The combined company possesses strong competitive advantage, participates in good … ET), with Essilor up 12.2 percent at 114.60 euros. Since their impending merger was announced in January, there has been remarkably little comment about the huge proposed deal to combine Essilor and Luxottica. Related Coverage Everything You Need to Know About Luxottica and Essilor's $50 Billion Merger The deal creates a massive enterprise that will boast 140,000 employees, $16 billion of annual revenue, and a … share information; results center; Presentations & Webcasts; Financial Calendar; News; Analyst Coverage; Annual Reports & Half Year Reports; EssilorLuxottica/ HAL Transaction documents; Key Figures; Corporate Governance. Essilor and Luxottica Merger - Official Press Release January 16th 2016. by Matt Geller, OD. San Diego, CA 92103 Delfin’s shareholders are Del Vecchio’s six children and his second wife. The transaction would entail a strategic combination of Essilor’s and Luxottica’s businesses consisting of (i) Delfin contributing its entire stake in Luxottica (approx. Retained by Cleary Gottlieb Steen & Hamilton and by BonelliErede. Delfin S.à.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International (Compagnie Générale d’Optique), today announced the successful completion of the combination of Essilor and Luxottica. The new entity would leverage state-of-the-art production capabilities and widespread distribution networks to better serve clients and deliver value to all stakeholders. Team! have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. Access financial releases and publications of Essilor International (Compagnie Générale d’Optique) (renamed EssilorLuxottica on October 1st, 2018) prior to the combination and financial releases and publications of Luxottica (a 62% subsidiary of EssilorLuxottica, publicly listed on … Voting rights capped at 31% for all 29-apr-13: Luxottica Group - 1Q13 Presentation - Presentation - Webcast - Transcript - Press release . Financial advisors: Citigroup Global Markets Limited and Rothschild & Co for Essilor, Mediobanca for Delfin, Legal advisors: Cleary Gottlieb Steen & Hamilton for Essilor, BonelliErede and Bredin Prat for Delfin. Essilor succeeded in bringing innovative solutions to ophthalmic lenses and creating internationally-recognized brands (Varilux®, Crizal®, Transitions®) offering tailored correction solutions for all of its consumers’ needs. Synergies were at the core of the 48 billion euro merger of Essilor, known for its Varilux lenses, and Luxottica - the owner of brands such as Ray-Ban, Oakley or Persol. 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. Investors Flutter has access to an attractive and growing global market, and is well positioned for success with substantial online scale, distinctive brands, and leading sports and gaming capabilities. The combination would create a key player, operating across all segments of the eyewear industry. Financial Calendar. Rayban maker EssilorLuxottica said on Thursday it has rejigged an executive power sharing arrangement put in place when the company was created by a merger in 2018, promoting two internal managers to the top executive roles. The transaction is subject to Essilor’s Works Councils’ information and consultation procedure according to French law. Thank you to our eyecare sponsors employers. Sagnieres, 61, will serve as executive vice-chairman and deputy CEO, but he and Del Vecchio will have the same powers. If we really want to provide consumers with the best product, Leonardo and I will have to co-manage,” Sagnieres said. Essilor brings 168 years of innovation and industrial excellence in the design, manufacturing and distribution of ophthalmic and sun lenses. The third-quarter e-commerce growth far exceeded that for overall sales, which rose by 1.4 percent at constant exchange rates. EssilorLuxottica General Meeting to be reconvened: PDF - … Luxottica's merger helps Del Vecchio manage family risks, Luxottica and Essilor confirm plans to merge companies. Shares in Luxottica were up by 8.6 percent at 53.80 euros by 1405 GMT (9:05 a.m. The company, formed by a 46 billion euro ($56 billion) union of France's Essilor and Italy's Luxottica, had given itself until the end of 2020 to find a new CEO - a compromise candidate to appease both sides. Consult the Luxottica Annual Report and Publication archive, with information about our financial perfomance since 2003. 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. But there certainly should be. This means that the merger would strengthen Luxottica’s product design process, back-end production and … All files can be downloaded as pdfs. With extraordinary success, Luxottica has built prestigious brands, backed by an industry state-of-the-art supply chain and distribution network. It will also leave smaller rivals lagging even further behind. 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. It declined to comment on Thursday whether that search was still on. and Calculators. In a conference call with analysts, the two sought to play down concerns over the co-leadership. State-of-the-art manufacturing footprint makes up the backbone of the company, where the most advanced R&D, equipment, materials and processes are used to make frames that are excellent in quality and style. “This marriage will take place and will work,” he said. 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. Press releases; Gallery; Stories; Contact; Search. “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. Luxottica operates a well-developed retail and wholesale network in both developed and emerging markets, along with innovative e-commerce platforms, engaging a new generation of digital consumers. To support this mission, Essilor allocates more than €200 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Close. 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