December 29, 2021
Charenton-le-Pon in France and Schiphol Airport in the Netherlands-Essilor Luxottica of Grand Vision and Optic Retail International Group BENE, a member of MPG Austria (ORIG / MPG), announced at the end of last week that it had signed an ORIG / MPG contract. Acquires 142 EyeWish stores in the Netherlands and 35 Grand Optical stores in Belgium. This follows the commitment made by the European Commission on March 23, 2021 as part of Essilor Luxottica’s acquisition of Grand Vision.
Essilor Luxottica Optica acquired approximately 77% of Grand Vision from HAL Optical Investments, a wholly owned subsidiary of HAL Holding, in July, according to VMAIL’s report. The transaction value was approximately $ 8.7 billion.
GrandVision is the parent company of ForEyes, an optical retail group in the United States.
Last week’s agreement between EssilorLuxottica, GrandVision and ORIG / MPG establishes a transition agreement to support the business continuity of the scope sold after the transaction was conducted.
According to the press release, the completion of the transaction between EssilorLuxottica, GrandVision and ORIG / MPG requires the approval of the European Commission as part of the commitment procedure. The transaction is expected to close in the first quarter of next year.
The advisors to Essilor Luxottica and Grand Vision in the transaction are Mediobanca-Banca di Credito Finanziario, Lazard is a financial advisor, Sullivan & Cromwell and Stebbe are legal advisors for mergers and acquisitions, Bonelli Erede is an anti-trust advisor, and IG & H and Deloitte Finance are cuts. I will give you an advisor.
In addition, De Brauw Blackstone Westbroek continued to support Grand Vision as a legal counsel.
The ORIG / MPG Advisor was mk05 as Financial Advisor and M & A, Loyens & Loeff as Legal Advisor M & A, and MPG as Due Diligence and Business Support.
Charenton-le-Pon, France and Schiphol Airport, The Netherlands-Essilor Luxottica and GrandVision announced this week the results of the post-approval period for GrandVision shares, which ended December 20th. During the post-approval period, 268,744 GrandVision shares will be bid under the offer, equivalent to approximately 0.11% of GrandVision’s outstanding equity capital. Considering 99.73% of the capital already held by EssilorLuxottica, the acquiring company holds a total of 254,031,577 shares of GrandVision, which is equivalent to approximately 99.84% of the capital issued by GrandVision.
According to the announcement, this represents approximately 99.89% of GrandVision’s outstanding shares.
EssilorLux Otica closed a 76.72% stake in Grand Vision, a wholly owned subsidiary of HAL Holding, in July, with VMAIL reported. The transaction value was approximately $ 8.7 billion.
According to the advertisement, GrandVision shareholders who accept the offer will receive the offer price of each stock that has been effectively bid (or deposited defective if the offer provider has abandoned such defaults), and the terms and restrictions of the offer. Will be delivered under.
The offer will be settled and the offer price will be paid on December 23, 2021 for each validly deposited share (or a defective deposit if the initiator abandons the default). (The stock liquidation process offered took place in December. 8, the expected “offer price” is € 28.42 per share).
In addition, as announced on December 13, the listing and trading of GrandVision shares in Euronext Amsterdam will be closed and Essilor Luxottica will own more than 95% of the shares. In consultation with Euronext, it was decided that the delisting will take place on January 10, 2022, so this week’s announcement by Essilor Luxottica will be the final date of the listed shares on January 7, 2022.
Since the Tender Offeror has acquired more than 95% of the shares, the offeror intends to initiate, as soon as possible, the buy-out reference of the offer memorandum.
Post time: Dec-29-2021