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    EL   FR0000121667

ESSILORLUXOTTICA

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EssilorLuxottica bid target GrandVision to sell off Chilean operations

04/12/2021 | 02:27am EST
FILE PHOTO: Sunglasses from Ray Ban are on display at a optician shop in Hanau near Frankfurt

PARIS (Reuters) - EssilorLuxottica said on Monday Dutch eyewear group GrandVision - which the French-Italian spectacles maker is attempting to buy - has agreed to sell its Chile units to the main shareholder HAL Trust.

EssilorLuxottica, whose brands include Ray-Ban and Oakley, added that the closing of the acquisition of GrandVision was still pending a sign-off from Turkey's competition authority, as well as decisions over ongoing arbitral proceedings.

EssilorLuxottica's 7.2 billion euros ($8.6 billion) bid to control the Dutch eyewear group's more than 7,000 outlets across the world was one of the largest takeover deals announced globally in 2019.

EU antitrust regulators last month agreed to the takeover under the condition that more than 300 GrandVision-operated stores in three countries should be sold to address competition concerns.

($1 = 0.8414 euros)

(Reporting by Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ESSILORLUXOTTICA 2.61% 181.64 Real-time Quote.38.78%
GRANDVISION N.V. 0.00% 28.4 Real-time Quote.11.37%
HAL TRUST 1.86% 142.6 Real-time Quote.21.54%
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Analyst Recommendations on ESSILORLUXOTTICA
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Financials
Sales 2021 19 612 M 22 197 M 22 197 M
Net income 2021 1 913 M 2 165 M 2 165 M
Net Debt 2021 9 404 M 10 644 M 10 644 M
P/E ratio 2021 41,0x
Yield 2021 1,33%
Capitalization 78 067 M 88 411 M 88 356 M
EV / Sales 2021 4,46x
EV / Sales 2022 3,81x
Nbr of Employees 144 888
Free-Float 63,8%
Chart ESSILORLUXOTTICA
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EssilorLuxottica Technical Analysis Chart | EL | FR0000121667 | MarketScreener
Technical analysis trends ESSILORLUXOTTICA
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 181,64 €
Average target price 185,92 €
Spread / Average Target 2,35%
EPS Revisions
Managers and Directors
Francesco Milleri Chief Executive Officer & Non-Independent Director
Stefano Grassi Co-Chief Financial Officer
David Wielemans Co-Chief Financial Officer
Leonardo del Vecchio Executive Chairman
Jean Carrier-Guillomet Co-Chief Operating Officer
Sector and Competitors