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Luxottica and Essilor agree 46 billion euro merger to create eyewear giant

Luxottica and Essilor agree 46 billion euro merger to create eyewear giant

Publicerat av Tony Harkén måndag, 16 januari 2017.

Italy's Luxottica (LUX.MI) and France's Essilor (ESSI.PA) have agreed a 46 billion euro ($49 billion) merger to create a global powerhouse in the eyewear industry with annual revenue of more than 15 billion euros, they said in a statement on Monday.

The deal, one of Europe's largest cross-border tie-ups, brings together Luxottica, the world's top spectacles maker with brands such as Oakley and Ray-Ban, with Essilor, the world's leading manufacturer of ophthalmic lenses.

"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.

Read more at - www.reuters.com/article/us-essilor-m-a-luxottica-group-idUSKBN14Z110

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