UPDATE ON ARBITRATION PROCEEDINGS AGAINST
Today, the tribunal in the arbitration proceedings initiated by HAL and GrandVision against EssilorLuxottica declared by majority that EssilorLuxottica is not obliged to consummate the acquisition of HAL's 76.72% interest in GrandVision (the "Transaction") and that EssilorLuxottica is entitled to terminate the Transaction in the event that EssilorLuxottica so decides.
The tribunal declared that HAL has not breached its obligations in respect of the Transaction, but denied HAL's request to declare that GrandVision did not materially breach the Support Agreement that it had entered into with EssilorLuxottica in respect of the Transaction.
HAL Holding NV
June 21, 2021
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HAL Trust NV published this content on 21 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2021 21:14:14 UTC.