Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. Analysts said that Essilor shareholders are getting a good deal because the share exchange ratio implies a 5 percent discount to Luxottica’s closing price on Friday, which was down 27 percent from its 2015 peak. 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. EssilorLuxottica's chair and vice-chair share, under the terms of the merger of Essilor and Luxottica last October, equal powers. The merger is expected to boost operating profit by up to 600 million euros in the medium term, the companies said. Based on the companies’ 2015 results, the new company would have posted combined net revenues of more than €15 billion and combined net EBITDA of approximately €3.5 billion. Essilor Luxottica Merger is COMPLETE. 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. Its mission is to improve lives by improving sight. 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. 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. The source said the tie-up had been agreed in the past six weeks. It was some time now that we knew that this was the right solution but only today are there the right conditions to make it possible. 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. Search. The EssilorLuxottica Board of Directors would consist of sixteen members: Essilor International, after completing the hive-down noted above, and Luxottica would maintain their respective Board of Directors. The Essilor share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Essilor et Luxottica : la fusion approuvée ouvre grand la voie du marché américain. However, as the deal is still pending conditions may vary. Luxottica’s Executive Chairman, Leonardo Del Vecchio, would serve as Executive Chairman and CEO of EssilorLuxottica. Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. On the surface, everything about combining Essilor and Luxottica makes complete sense. Delfin will contribute its 62 percent stake in Luxottica at a ratio of 1 share in the Italian group for every 0.461 Essilor shares. The voting rights of any shareholder of EssilorLuxottica would be capped at 31% and there would no longer be double voting rights for the shares. It will also leave smaller rivals lagging even further behind. The transaction is subject to Essilor’s Works Councils’ information and consultation procedure according to French law. EssilorLuxottica is a global leader with an ambition to grow the industry. 29-apr-13: Luxottica Group - 1Q13 Presentation - Presentation - Webcast - Transcript - Press release . Enter this section to read more and get in touch with the Financial Communication and Investor relations team. 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". 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. By joining forces today, these two international players can now accelerate their global expansion to the benefit of customers, employees and shareholders as well as the industry as a whole.”. Dutch retailer GrandVision. Investor Relations contacts Analyst, investor or individual shareholder? The deal will be a stock-for-stock merger with an exchange of 0.461 Essilor Shares for 1 Luxottica share. 25-Jul-13: Luxottica Group - 2Q13 Presentation - Presentation - Webcast - Transcript - Press release . opportunities for healthcare professionals and scalable talent acquisition solutions for The third-quarter e-commerce growth far exceeded that for overall sales, which rose by 1.4 percent at constant exchange rates. Together, Essilor and Luxottica will be in a stronger position to address the vision needs of the 7.2 billion people in the world out of which 2.5 billion people still suffer from uncorrected vision problems.

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