French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion

French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion

17.01.2017 News

International Company – manufacturer of optical equipment and lenses Essilor International S.A. will buy the Italian company – the manufacturer of glasses Luxottica Group S.p.A., which owns the brand Ray Ban. The acquisition price is $ 24 billion. About the transaction has informed agency Bloomberg L. P. in the early part of the week on January 16th.

Under the terms of this transaction, the new company will be called EssilorLuxottica. The company Delfin, a family-owned company of chairman Leonardo Del Vecchio, Luxottica, will give its share (approximately 62%) in Luxottica, to Essilor company in exchange for shares in the new issue Essilor. Leonardo Del Vecchio (who is chairman of the board of directors Delfin) takes over as CEO and Chairman of the Board of Directors in new company. Chief Executive Officer Essilor – Hubert Saner will replace the general director and the board of directors head.

Currently, both funds of companies have amount more than € 50 billion in total. The combined company will work in more than 150 countries, and the number of employees will be more than 140 thousand people. As the company’s forecast, synergies from this merger will be between € 400 and € 600 million annually.

Also read: Alibaba Group offers for the purchase of Chinese Intime Retail $ 2,6 billion

Other articles

  • Johnson & Johnson plans to complete the third phase of trials of the COVID-19 vaccine in January
    News

    Johnson & Johnson plans to complete the third phase of trials of the COVID-19 vaccine in January

    Johnson & Johnson plans to complete the third phase of trials of its single-dose vaccine against COVID-19 in mid-January 2021. Paul Stoffels, vice chairman of the executive committee, senior scientific expert at Johnson & Johnson said they plan to deliver to market 1 billion doses. “We are in the middle of the third phase of […]

  • BlackBerry shares have soared. The company will start working with Amazon
    News

    BlackBerry shares have soared. The company will start working with Amazon

    Shares of BlackBerry jumped sharply on auction on December 1 after the news of a partnership with Amazon Web Service. TechCrunch writes that together they will develop and sell a service for connected cars – IVY platform. Stock quotes at the beginning of trading on the New York Stock Exchange (NYSE) rose by 35%. The […]

  • Moderna vaccine will be tested on teenagers
    News

    Moderna vaccine will be tested on teenagers

    The mRNA-1273 vaccine from the American company Moderna will be tested on three thousand children in six US states. CNN reported this on Wednesday, December 2. “Moderna has started inviting children over the age of 12 to try the vaccine” the statement said. It is noted that the study will involve volunteers aged 12-18 from […]

  • 11 distilleries have already been sold in Ukraine
    News

    11 distilleries have already been sold in Ukraine

    The eleventh object of the state enterprise Ukrspirt Zalozetsky distillery was sold for UAH 80 million. This was reported by the State Property Fund on Wednesday, December 2. It is noted that six participants competed in transparent bidding, as a result of which the starting price increased two and a half times – from UAH […]

  • Airbnb will try to get an estimate of $ 35 billion for an IPO
    News

    Airbnb will try to get an estimate of $ 35 billion for an IPO

    According to Bloomberg, citing documents submitted to the Securities and Exchange Commission (SEC), the short-term rental service Airbnb plans to raise $ 2.6 billion in listing in the US and receive an estimate of $ 35 billion. If the company manages to raise $ 2.6 billion, Airbnb’s placement will be the fourth largest IPO in […]

  • Pfizer and BioNTech have applied for registration of the COVID-19 vaccine in Europe
    News

    Pfizer and BioNTech have applied for registration of the COVID-19 vaccine in Europe

    The American company Pfizer and the German BioNTech have applied to the European Medicines Agency for registration of their coronavirus vaccine. The announcement was published on the BioNTech website. “On Monday, November 30, Pfizer and BioNTech filed a formal application with the European Medicines Agency for a conditional authorization to use their COVID-19 candidate vaccine […]

  • The Verkhovna Rada has taken a step towards the legalization of cryptocurrencies
    News

    The Verkhovna Rada has taken a step towards the legalization of cryptocurrencies

    The Verkhovna Rada of Ukraine adopted in the first reading the draft law №3637 on virtual assets. LIGA.net reports, 230 people’s deputies voted for this document. According to the explanatory note, the market for virtual assets in Ukraine has been already formed and has existed for about five years, but it is completely outside the […]

  • Salesforce announced the purchase of Slack messenger for $ 27.7 billion
    News

    Salesforce announced the purchase of Slack messenger for $ 27.7 billion

    Salesforce is one of the world’s largest players in the cloud computing sector. They will buy Slack Technologies, the owner of Slack’s corporate messenger. The Wall Street Journal reports, Messenger will cost Salesforce $ 27.7 billion, which will be the largest acquisition of the company in its history. The terms of the deal include that […]

Read also

French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

“Gazprom” filed a lawsuit against the AMCU due to the fine of 86 billion UAH

According to the sources, “Gazprom”, JSC demands to annul the decision of the Antimonopoly Committee of Ukraine (AMCU) of the fine in the amount of 85.966 billion UAH through the Commercial Court of Kiev. The claim is registered in the court on April, 12. “Naftogaz of Ukraine” and “Ukrtransgaz” must be the third parties in […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter

Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

General Motors introduced the concept of electric car

Automaker General Motors has introduced the Buick Electra Concept. The electric car is designed for four people and has a minimalist design. The car can travel more than 660 km without recharging. It takes 4.3 seconds to accelerate to 100 km / h. The total power of the two engines reaches to 583 horsepower. It […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Deutsche Bank was able to resolve the conflict with the United States: the case is closed

Deutsche Bank was able to resolve the conflict with the US regulator, agreeing with the charges of tax evasion and taking on the obligation to pay a fine in the amount of $ 95 million. It is reported by financial portal MinFin with reference to the foreign sources. In a statement, the bank’s press secretary […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

“Klub Syra” enters the EU market

The “Klub syra” Company is considering the possibility of cheese deliveries to Romania and Bulgaria and deliveries  of dry fat-free to  Romania, Bulgaria and Poland. This was announced by the CEO of the company Maxim Rylik, writes “Ukrainian News”. “As for the European Union, today  we are considering the issue of the exports in direction […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Ukrainian startup Petcube received $ 2.6 million investments

Ukrainian startup Petcube,  which successfully sells  gadgets for pets, has attracted an investment in amount of $ 2.6 million from such investors as Almaz Capital and AVentures Capital, which previously invested in the start-up $ 1.1 million.  Also, in the round participated legendary business incubator Y Combinator; Ukrainians got into the program of the Y […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

A large producer of sugar invests $ 10 million in the plant in the Mykolaiv region

The  ED&F Man Ukraine company plans to invest another $ 10 million in a sugar refinery in the Mykolaiv region and expand its land bank to 45-50 thousand Ha. The previous investments of the company in the mentioned plant consisted about $ 30 million. This was announced by the Director of ED&F Man Ukraine – […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Tiffany sued LVMH over the delay in the merger deal

The multinational jewelry company Tiffany has filed a lawsuit in the court of the state of Delaware (USA) against the French luxury goods manufacturer LVMH (Louis Vuitton Moet Hennessy) for delaying the latest merger process. This was announced on Wednesday by the press service of the jewelry company. According to press service, LVMH group intentionally […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Fintech’s subsidiary Alibaba has aimed for the largest IPO in history

A subsidiary of Alibaba Group – Ant Group – plans to attract $ 35 billion in the course on the Shanghai and the Hong Kong exchange. This was reported by Bloomberg. The IPO could be the largest in history, the agency emphasizes. The previous record holder, Saudi oil company Aramco, raised $ 29.4 billion. The […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
Analytics

Realities and prospects of the real estate market of Ukraine

Ukraine’s real estate market throughout 2017 experienced the impact of both economic and political crisis phenomena, under pressure from the economic downturn and lower purchasing power of the population. Despite all the negative trends, construction statistics in the period 2017 recorded positive results, which are confirmed by such an authoritative world ranking of Doing Business […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
Analytics

Commercial real estate of Ukraine

Today the commercial real estate market is experiencing not its best times. Expectations of both demand and supply growth, and, indirectly, the expectation of economic growth in general are the overall trends of recent years. Current market situation and perspectives Retail turnover for the last year amounted to 1 trillion 159 billion and 271 million […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

The robotization of Amazon’s warehouses led to the increasing of the injuries among the employees

Introduced five years ago in Amazon’s warehouses the robots did not make the life easier for the employees – on the contrary, people are now forced to work four times faster. In addition, the robotics has brought Amazon warehouses to the record 14,000 serious injuries by the end of 2019. The current figures are to […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

A large pharmaceutical company Shire is buying its rival Baxalta for $ 32 billion

According to news agency Bloomberg, citing informed sources, a large Irish pharmaceutical company Shire is buying its rival company Baxalta Inc. This will create a new global biotech giants. The acquisition price is approximately $ 32 billion by shares and cash, not including the payment of debts. Precise details of the purchase are not currently […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

The Japanese company Fujikura opened a plant in the Lviv region

The opening of the plant of the Fujikura company in Ukraine should be a strong signal to all investors willing to believe in our country. The President of Ukraine Petro Poroshenko wrote about this in his Twitter after the opening of the new plant of Fujikura  in village Pidryasne near Lviv. “You will not find […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Pfizer has merged with Allergan to avoid the “non-competitive tax rates.”

A few days ago between two companies was signed an agreement for $ 150 billion. It was the merger of two large companies – manufacturer of drugs and vaccines Pfizer and Allergan, which producing cosmetics and botox. The deal was struck not only to consolidate or improve its production system. The main reason for the […]

Next
French company Essilor takes over Italian manufacturer Luxottica for $ 24 billion
News

Who will become the new manager of Novus?

Ukrainian Network of supermarkets Novus gets a new CEO in the person of Mark Petkevich. His predecessor, Ihor Landa is leaving the post. The new ruler of Novus Ukraine, which has held the position of executive director of the network since September 2015, will enter the status of the General on January 19 this year. […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com