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EU regulators to clear Luxottica, Essilor deal without conditions: sources

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Reuters BRUSSELS
Last Updated : Dec 14 2017 | 7:56 PM IST

By Foo Yun Chee and Julia Fioretti

BRUSSELS (Reuters) - Italy's Luxottica and French glasses group Essilor are set to win unconditional EU antitrust approval for their 48-billion-euro ($56.8 billion), two people familiar with the matter said on Thursday.

The deal between Luxottica, the world's biggest eyeglass frame maker, and Essilor, the world No. 1 lens maker, would create a company that would make products ranging from Ray-Bans to Giorgio Armani frames and have a major eyeglass retail outlet.

The European Commission, which had some initial concerns about the mega deal, declined to comment. Luxottica also declined to comment.

The deal was worth 46 billion euros when it was unveiled in January. The companies' higher share prices since then has pushed up the figure to 48 billion euros.

Luxottica's brands include Ray Ban and Persol, and licensed names such as Chanel and Armani. ($1 = 0.8454 euros)

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(Reporting by Foo Yun Chee and Julia Fioretti, additional reporting by Agnieszka Flak in Milan; editing by Philip Blenkinsop)

Disclaimer: No Business Standard Journalist was involved in creation of this content

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First Published: Dec 14 2017 | 7:31 PM IST

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