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China: Essilor wins approval for Luxottica merger

 |  July 26, 2018

China’s State Administration for Market Regulation (SAIC) said announced it has approved a merger deal between French optical-lens maker Essilor International and Italy Italian eyewear firm Luxottica Group with conditions.

Among several restrictions, the merged company cannot ban Chinese eyewear sellers from selling their competitors’ products, except for single-brand and franchise stores, the SAIC announced in a statement posted on its website late Wednesday, July 25.

The deal is still awaiting a nod from Turkish authorities after gaining approval from the European Union in March.

Full Content: Reuters & 4-Traders

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