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EssilorLuxottica Offers To Sell Stores To Get EU Greenlight

 |  February 9, 2021

Eyewear maker EssilorLuxottica has offered to sell assets in three European Union countries in a bid to allay EU antitrust concerns about its 7.2-billion-euro ($8.7 billion) bid for Dutch Opticians group GrandVision, reported Reuters. 

EssilorLuxottica submitted its offer to the European Commission on Monday, according to a filing on the EU executive’s site. The EU competition enforcer will decide by April 12 whether to clear or block the deal.

The duo’s push for regulatory approval comes after a rocky year when EssilorLuxottica, the maker of Ray-Ban sunglasses, seemed to be reconsidering its agreed 7.3 billion-euro ($8.8 billion) purchase of its Dutch rival. The Franco-Italian company was worried about the way the Covid-19 crisis has affected GrandVision’s business as shops were shuttered, people said in December.

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