The European Commission launched a full-scale investigation on February 6 on worries that the deal could push up prices or reduce choice … Study: Faced with the different appellations of diamonds, how do consumers find their way around? February 25, 2020. The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. 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According to the Financial Times, the EssilorLuxottica group will respond to the Commission’s concerns by the end of the month and will be able to contact the regulators to defend this acquisition. Version: 1.0.12 Last modified: Wed Nov 25 2020 04:36:00 GMT-0800 (Pacific Standard Time) EssilorLuxottica, formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, gave up the chance to offer concessions on Thursday, the deadline for doing so, the European Commission website showed. EU antitrust authorities have extended their investigation into Ray-Ban maker EssilorLuxottica's 7.2 billion euro (6.5 billion pounds) bid for Dutch opticians group GrandVision by a week to Aug. 27. Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. The European Commission will send a statement of objections outlining its concerns in the coming days, the people said, … EU regulators are not the only ones with concerns over the transaction. The parties are confident that Phase II will be completed in a timely manner and … Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica. The European Commission’s competition regulator body did not give details for the move. Update on the proposed acquisition of GrandVision by EssilorLuxottica. The European Commission declined to comment. EU antitrust regulators on Tuesday extended their investigation into Ray-Ban maker EssilorLuxottica's 7.2 billion-euro ($7.8 billion) bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing. So far, the transaction has been unconditionally cleared by the US, Russia and Colombia, and it is currently under review in Brazil, Chile, Mexico and Turkey. The initiation of proceedings opens a second phase investigation with regard to the notified concentration, and is without prejudice to the final decision on the case. Her fields of research include international accounting standards, risk, insurance, banks, financial instruments, intangible assets and pension funds. Grâce à une veille accrue et à une excellente connaissance du secteur, nous nous intéressons aux principaux enjeux économiques et technologiques de la mode, la haute horlogerie, la joaillerie, la gastronomie, des cosmétiques, parfums, de l’hôtellerie, l’immobilier de prestige…, COPYRIGHT 2020 LUXUS + ALL RIGHTS RESERVED, Our site uses cookies. This news service previously reported that the European Commission’s (EC) review, which could be a phase II candidate, is likely to focus on vertical foreclosure, although any horizontal overlaps would also be examined. Lack of awareness and access have led to a global vision crisis with severe social and economic consequences for billions of people. The deadline already had been pushed back three … The parties are confident that Phase II will be completed in a timely manner and will closely cooperate with the European Commission to fully demonstrate the rationale … OUR NEWSLETTERS CONTRIBUTE TO MAKE OUR READERS AWARE OF THE CHANGES AFFECTING THE LUXURY INDUSTRIES. Get notified about exclusive offers every week! [THE LUXURY JOURNALS] Jean-Luc Dechery (Camille Fournet): “Today, we are able to trace the origin of a bracelet.”, [THE LUXURY JOURNALS] 4 questions to Frank Boehly, President of the National Leather Council, [The Luxury Journals] Noémie Dumesnil (Authentic Material) : “Our goal is to maximize naturality and pedagogy for our clients”. EssilorLuxottica is in talks to buy a stake in GrandVision as the glasses behemoth eyes control of the industry. She has published extensively in her fields of expertise. THANKS TO AN INCREASED WATCH AND AN EXCELLENT KNOWLEDGE OF THE SECTOR, WE ARE INTERESTED IN THE MAIN ECONOMIC AND TECHNOLOGICAL STAKES OF FASHION, FINE WATCHMAKING, JEWELRY, GASTRONOMY, COSMETICS, PERFUMES, HOTELS, PRESTIGIOUS REAL ESTATE...********[FR] Claire Domergue, spécialiste de la communication dans le secteur du luxe, s’est entourée d’experts pour créer le premier média consacré à l’actualité économique du Luxe et de la mode. BRUSSELS, June 4 (Reuters) - EU regulators are set to warn As expected (see EUROPE B12416A28), the European Commission opened on Thursday 6 February an in-depth investigation into the proposed acquisition of GrandVision (a Dutch company) by EssilorLuxottica (a French-Italian company). EU antitrust regulators on Tuesday, February 25, extended their investigation into Ray-Ban maker EssilorLuxottica’s €7.2 billion (US$7.8 billion) bid for Dutch opticians group GrandVision by two weeks to July 6, according to an EU filing. It plans to launch a takeover bid for the balance of the capital at a price of 28 euros per share, valuing the company at 7.2 billion euros. Read also > ESSILORLUXOTTICA RAISES THREE BILLION EUROS IN BONDS. Luxury, ally or enemy of a more responsible society? The European Sting is Your democratic, independent and top quality political newspaper specialized in European Union News. EssilorLuxottica acquired HAL Holdings’ 76.72% interest in GrandVision in July, 2019 and a European Commission investigation was launched in February, 2020 over competition concerns. On 6 February 2020, the Commission decided to initiate proceedings in the above-mentioned case after finding that the notified concentration raises serious doubts as to its compatibility with the internal market. The European Commission fears that the takeover could lead to a reduction in competition on the wholesale market for eyeglasses and contact lenses and on the retail market for optical products. The Commission is concerned that the merger may reduce competition for the wholesale supply of … But the European Commission has suspended its competition investigation since April 7, leading to a real threat that the transaction will not win approval of regulators in Brussels on time. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. EssilorLuxottica, formed last year from the merger of French lens maker Essilor and Italian eyewear group Luxottica, gave up the chance to offer concessions on Thursday, the deadline for doing so, the European Commission website showed. Plus qu’un webzine spécialisé, Luxus Plus est un système d’information multi-sectoriel, devenu l’outil de veille de référence pour les professionnels du luxe et de la mode. Retailers and rival lens makers have similarly voiced worries, sources have told Reuters. EssilorLuxottica, which owns the Oakley and Persol brands and Varilux lenses, was formed last year from the merger of French lens maker Essilor and … NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. The new deal will give EssilorLuxottica control of more than 7,000 stores worldwide. She has published extensively in her fields of expertise. The Strategy Committee consists of six members but, unless otherwise determined by a joint decision of the EssilorLuxottica Executive Chairman and the EssilorLuxottica Executive Vice-Chairman, all Board members shall be invited to attend (but not to vote at) its meetings, except for meetings convened to discuss sensitive and significant acquisition projects. EssilorLuxottica and GrandVision acknowledged the European Commission’s Phase II review in a statement. Companies, organizations, public authorities or individuals outside of the EssilorLuxottica Group (e.g. The European Commission, which opened a full-scale investigation on Feb. 6, is concerned that the deal could push up prices or reduce choice for consumers. This winter’s big accessory trend and must-have: fashion is rehabilitating the glove! NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. A legal bid by EssilorLuxottica for the disclosure of information about how GrandVision conducted business during the pandemic was dismissed by the Dutch District Court in September, 2020 and an appeal was … Then $68.00 per month.New customers onlyCancel anytime during your trial, Try full digital access and see why over 1 million readers subscribe to the FT, FT print edition delivered Monday - Saturday along with ePaper access, Premium FT.com access for multiple users, with integrations & admin tools, Purchase a Trial subscription for $1.00 for 4 weeks, You will be billed $68.00 per month after the trial ends, Purchase a Digital subscription for $7.16 per week, You will be billed $40.00 per month after the trial ends, Purchase a Print subscription for $5.75 per week, You will be billed $50.00 per month after the trial ends, Purchase a Team or Enterprise subscription for per week, You will be billed per month after the trial ends, Trump pledges ‘orderly transition’ after Biden win confirmed, Angry mobs of Trump supporters interrupt transfer of power, Democrats take control of US Senate with two Georgia victories, South African Covid variant may affect vaccine efficacy, warn scientists, Western democracies stunned by images of unrest in Washington, The nightmarish end to Donald Trump’s presidency, How General Motors plans to overtake Tesla for the electric car crown, Denmark charges two UK nationals over $1.6bn tax fraud, Activists eye targets in weak and vulnerable corporate UK, UK’s biggest nightclub operator sold for £10m, AmerisourceBergen agrees $6.5bn deal for Alliance Healthcare, No, bitcoin is not “the ninth-most-valuable asset in the world”, ‘Blue wave’ trade back on after Georgia Senate poll, Small-caps and value shine on Wall Street after Georgia results, EU share trading flees London on first day after full Brexit, UK watchdog to investigate Nvidia’s $40bn Arm deal, Donald Trump must be held to account for storming of the Capitol, Rightwing sceptics helped deepen the UK’s Covid crisis, The triple threat to London’s city top spot, Work less and be more creative — a radical prescription. At the time, the European Commission noted EssilorLuxottica is the world's largest supplier of eyewear, and GrandVision is Europe's largest optical retail chain. EssilorLuxottica SA, formerly known as Essilor International Compagnie Generale D Optique SA, is a France-based ophthalmic company. EssilorLuxottica acquired HAL Holdings’ 76.72% interest in GrandVision in July, 2019 and a European Commission investigation was launched in February, 2020 over competition concerns. The Company designs, manufactures and markets a … The Commission has until 13 August to give its verdict on the deal. How do I switch from corporate finance to public affairs? EU regulators are not the only ones with concerns over the transaction. hosting providers, market and analyst service providers, database management and maintenance services). For JV and ECSC cases (old cases not available via the search page) follow this link: JV and ECSC cases. NEW YORK—The European Commission regulators charged with reviewing the proposed acquisition of GrandVision (Euronext: GVNV) by EssilorLuxottica (ISIN: FR0000121667) moved last week to suspend its Aug. 27 deadline for completing its review of the transaction. Mergers Merger Cases. According to the Financial Times, the EssilorLuxottica group will respond to the Commission’s concerns by the end of the month and will be able to contact the regulators to defend this acquisition. [EN] CLAIRE DOMERGUE, A SPECIALIST IN COMMUNICATION IN THE LUXURY SECTOR, HAS SURROUNDED HERSELF WITH EXPERTS TO CREATE THE FIRST MEDIA DEDICATED TO THE ECONOMIC NEWS OF LUXURY AND FASHION. EssilorLuxottica declined to comment. The European Commission’s competition regulator body did not give details for the move. It is not the first time the deal has run into difficulties. Livy: French know-how for top-of-the-range lingerie, [Luxus+ Magazine] Death of Enzo Mari, precursor of Italian design. Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. The European Commission, the executive body of the EU, declined to comment. For latest updates of cases follow this link updates of cases. The European Commission has initiated a … The European Commission’s competition regulator body did not give details for the move. Some of these recipients of the data may be located in countries outside the European Union/European Economic Area. ISG Luxury Management Webinar: What to remember about Chantal Thomass’ presentation! But the European Commission has suspended its competition investigation since April 7, leading to a real threat that the transaction will not win approval of regulators in Brussels on time. EssilorLuxottica’s takeover of Vision Express-owner GrandVision will be subject to an investigation by the European Commission. The European Commission, the European Union’s top antitrust body, in March 2018 unconditionally cleared the merger that created EssilorLuxottica. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. The move suggests the European Commission wants concessions to address their concerns and that they could open an in-depth investigation if these are not given or seen as insufficient. An in-depth investigation into this acquisition, launched by the European Commission, has been ongoing since last February. “Colette mon amour”: The documentary that traces the end of a “historical monument”. For currently open merger cases follow this link open merger cases. On 6 February, the European Commission commenced an investigation into the proposed merger of EssilorLuxottica, the world’s largest supplier of ophthalmic lenses and eyewear, and GrandVision, Europe’s largest optical retail chain. Charenton-le-Pont, France, February 6, 2020 – EssilorLuxottica S.A. and GrandVision N.V. today confirm that the European Commission has initiated a Phase II review of the proposed acquisition of GrandVision by EssilorLuxottica.. The European Sting - Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology - europeansting.com. The big known-unknown is the response of the European Commission and, in particular, antitrust commissioner Margrethe Vestager. The European Commission launched a full-scale investigation on Feb. 6 on worries that the deal could push up prices or reduce choice for consumers. Nos newsletters de veille contribuent en effet à sensibiliser nos lecteurs aux mutations qui touchent les industries du luxe. 31/01/2020 (Agence Europe) – The European Commission is ready to open an in-depth investigation into the €7.2 billion bid launched by EssilorLuxotica for the Dutch optical group Grandvision, Reuters news agency reported on Friday 31 January, according to sources close to the case. The European Union only approved the 48-billion-euro merger of Essilor and Luxottica after a long study. The Commission will assess whether the acquisition will result in increased prices or reduction of choice for consumers and has until June 22 to make a decision. The Commission, which will open the full-scale probe following the end of its preliminary review on Feb. 6, and EssilorLuxottica declined to comment. Sabrina Pucci started her academic career after graduating in Economics and Business from La Sapienza University in Rome. 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