essilor luxottica merger investor presentation
Posted by in Jan, 2021
Consult the Luxottica Annual Report and Publication archive, with information about our financial perfomance since 2003. Additional information on the Group is available at www.luxottica.com. October 1, 2018. Moody's Investors Service 20 May 2020 Announcement of Periodic Review ... FAQ on Essilor's Planned Merger with Luxottica. On this occasion, Hubert Sagnières, Chairman and CEO of Essilor stated: “Our project has one simple motivation: to better respond to the needs of an immense global population in vision correction and vision protection by bringing together two great companies, one dedicated to lenses and the other to frames. 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. Investor Relations contacts; Email Investor Alerts; IR Policy; Newsroom. Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP. 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.”. 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. 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. Del Vecchio, who grew up as an orphan but is now Italy’s second-richest person, said he had long dreamed of such a merger. 10 min read 5.8k views ... Luxottica Group . Finally, after fifty years, two products which are naturally complementary, namely frames and lenses, will be designed, manufactured and distributed under the same roof". Retained by Cleary Gottlieb Steen & Hamilton and by BonelliErede. Dutch retailer GrandVision GVNV.AS and Italy's Safilo Group SFLG.MI had revenue of 3.2 billion euros and 1.3 billion euros respectively in 2015. Our Standards: The Thomson Reuters Trust Principles. 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. Essilor and Luxottica are to become one after a merger was approved by shareholders in Paris on May 11, 2017. employers. The 2017 deal was presented as a “merger of equals” but developed into a row between Luxottica’s founder Leonardo Del Vecchio and Essilor Chief Executive Hubert Sagnieres. See here for a complete list of exchanges and delays. Here you will find the list of the upcoming financial events of the EssilorLuxottica Company. Thank you to our eyecare sponsors Third Point LLC, the U.S. hedge fund that has pushed for changes at companies ranging from Nestle to Campbell Soup, has amassed a stake in … The firm had even hired headhunters to find external candidates. It also develops and markets equipment, instruments and services for eyecare professionals. Essilor et Luxottica : la fusion approuvée ouvre grand la voie du marché américain. Tel. Essilor reported consolidated revenue of more than €6.7 billion in 2015 and employs 61,000 people worldwide. “Finally ... two products which are naturally complementary -- namely frames and lenses -- will be designed, manufactured and distributed under the same roof,” Luxottica’s 81-year-old founder Leonardo Del Vecchio said in a statement on Monday. ET), with Essilor up 12.2 percent at 114.60 euros. It will also leave smaller rivals lagging even further behind. Essilor succeeded in bringing innovative solutions to ophthalmic lenses and creating internationally-recognized brands (Varilux®, Crizal®, Transitions®) offering tailored correction solutions for all of its consumers’ needs. It declined to comment on Thursday whether that search was still on. Leveraging its cutting-edge methods, Essilor also developed new approaches in the sunwear segment and online retail. This transaction would allow the combined group to better seize growth opportunities resulting from strong demand in the eyewear market, driven by the increasing need for corrective and protective eyewear and the appetite for strong brands. 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 world's leading ophthalmic optics company, Essilor designs, manufactures and markets a wide range of lenses to improve and protect eyesight. The presentation should be read together with the press release dated July 31, 2019 available at www.essilorluxottica.com under the Investors tab. Investor Relations contacts Analyst, investor or individual shareholder? The deal is expected to close by the end of the year and Del Vecchio said he is confident there will be no problems gaining approval from competition authorities. Press releases; Gallery; Stories; Contact; Search. : +39 (02) 8633 4870. Delfin Sarl is the Luxembourg based holding company of the Del Vecchio Family. Essilor and Luxottica are highly complementary businesses due to minimal overlap in ophthalmic lenses (Essilor) and sunglasses/frames (Luxottica). Satisfaction of the conditions to the transaction closing, including: AMF's decision to waive Delfin's obligation to file a mandatory tender offer for Essilor’s shares, Approval of the transaction by Essilor shareholders convened for a general meeting, and by holders of double voting rights convened for a special meeting, Clearance from relevant anti-trust authorities. Essilor Delfin S.à.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International (Compagnie Générale d’Optique), today announced the successful completion of the combination of Essilor and Luxottica. 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 voting rights of any shareholder of EssilorLuxottica would be capped at 31% and there would no longer be double voting rights for the shares. Company information for EssilorLuxottica EUR 0.35 share priceincluding general stock details, key personnel and important dates for your diary. 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. The deal also removes -- for now at least -- uncertainty over succession at Luxottica, which has lost three CEOs since 2014 because of rifts with Del Vecchio. share information; results center; Presentations & Webcasts; Financial Calendar; News; Analyst Coverage; Annual Reports & Half Year Reports; EssilorLuxottica/ HAL Transaction documents; Key Figures; Corporate Governance. But there certainly should be. Alessandra Senici. Luxottica said in September 2014 that discussions had taken place in 2013 but were dropped for a number of reasons, including shareholding governance issues. The news comes as the group formed from the 2017 merger of French lens maker Essilor and Italian glasses company Luxottica conducts a shake-up … Founded in 1849, Essilor’s long history is bound to its mission of improving lives by improving sight. On worldwide sales of 6.7bn euros in 2015, Essilor made operating profits of 1.2bn euros. Its flagship brands are Varilux®, Crizal®, Transitions®, Eyezen™, Xperio®, Foster Grant®, Bolon™ and Costa®. Voting rights capped at 31% for all 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. All files can be downloaded as pdfs. For more information, please visit www.essilor.com. Luxottica is a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear. All files can be downloaded as pdfs. had revenue of 3.2 billion euros and 1.3 billion euros respectively in 2015. Its mission is to improve lives by improving sight. Essilor International’s Special Meeting and Combined General Meeting at the Maison de la Mutualité in Paris, led by chair and CEO Hubert Sagnières and alongside Luxottica executive chair Leonardo Del Vecchio, saw the transaction finalized with widespread approval. Consult the Luxottica Annual Report and Publication archive, with information about our financial perfomance since 2003. Access financial releases and publications of Essilor International (Compagnie Générale d’Optique) (renamed EssilorLuxottica on October 1st, 2018) prior to the combination and financial releases and publications of Luxottica (a 62% subsidiary of EssilorLuxottica, publicly listed on … During the presentation, all participants will be in a listen only mode. The Essilor share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Investor Relations & Corporate Communications. 3605 Fifth Ave Sagnieres, 61, will serve as executive vice-chairman and deputy CEO, but he and Del Vecchio will have the same powers. The merger is expected to boost operating profit by up to 600 million euros in the medium term, the companies said. The merged EssilorLuxottica will have 140,000 staff and will be headquartered and listed in Paris. Dutch retailer GrandVision. reviews on Google, Combination of two major and complementary global players in the eyewear industry to answer the growing needs in visual health and the appetite for premium branded products, By bringing together Essilor and Luxottica, the new group would be in an outstanding position to propose a comprehensive offering combining a strong brand portfolio, global distribution capabilities and complementary expertise in ophthalmic lenses, prescription frames and sunglasses, The new entity, with combined revenue in excess of €15 billion, more than 140,000 employees and sales in over 150 countries, would represent a growth platform ideally positioned to seize future opportunities, Expected to generate significant synergies, Delfin irrevocably commits to contribute its shares in Luxottica to Essilor based on an exchange ratio of 0.461 Essilor share for 1 Luxottica share, Eight members nominated by Essilor, comprising Hubert Sagnières, two employee representatives, one Valoptec representative and four independent members, Eight members nominated by Delfin, comprising Leonardo Del Vecchio, three Delfin representatives and four independent members, Launch of Essilor’s Works Council’s information/consultation process. The third-quarter e-commerce growth far exceeded that for overall sales, which rose by 1.4 percent at constant exchange rates. Privacy Enter this section to read more and get in touch with the Financial Communication and Investor relations team. The Essilor Luxottica merger is the largest in the history of global eye care – exceeding the value of the Alcon Novartis merger by about four times with a combined market capitalisation of almost AU$65 billion. The pending merger with Luxottica creates a global leader cross the value chain (lens, frame and sunglasses, retail, online) and synergies of €420-600 million. Le cours de l'action ESSILORLUXOTTICA EL en temps réel sur Boursorama : historique de la cotation sur Euronext Paris, graphique, actualités, consensus des analystes et informations boursières The 2017 deal was presented as a “merger of equals” but developed into a row between Luxottica’s founder Leonardo Del Vecchio and Essilor Chief Executive Hubert Sagnieres. 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