BRUSSELS, March 23 (Reuters) – EU antitrust regulators on Tuesday cleared with circumstances EssilorLuxottica’s ESLX.PA 7.2-billion-euro ($8.5 billion) purchase of GrandVision GVNV.AS after the Ray-Ban maker agreed to promote greater than 400 shops in three international locations to deal with competitors issues.
Fashioned in 2018 from the merger of French lens producer Essilor and Italian spectacles maker, EssilorLuxottica additionally makes eyewear for luxurious manufacturers similar to Chanel, Prada and Versace.
The European Fee mentioned EssilorLuxottica pledged to promote a complete of 451 shops in Italy, the Netherlands and Belgium to allay issues that the deal could lead to worth hikes for body retailers and scale back competitors.
($1 = 0.8422 euros)
(Reporting by Foo Yun Chee)
((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters Messaging: foo.yunchee.thomsonreuters.com@reuters.internet))
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially replicate these of Nasdaq, Inc.