Schiphol, The Netherlands - 30 July 2020. GrandVision NV (Euronext: GVNV) today initiated arbitration proceedings against EssilorLuxottica SA (Euronext: EL) in connection with the material breach notice EssilorLuxottica has sent to GrandVision.
As previously announced, GrandVision strongly disagrees with EssilorLuxottica's claims. Therefore, GrandVision has initiated these arbitration proceedings to obtain confirmation that GrandVision is not in material breach of the Support Agreement concluded in connection with the envisaged sale by HAL Optical Investments B.V. of its 76.72% ownership interest in GrandVision to EssilorLuxottica (the "Transaction"). GrandVision also wants to ensure that EssilorLuxottica complies with its obligations under the Support Agreement, in particular regarding merger clearance processes.
GrandVision continues to support EssilorLuxottica with the shared objective to obtain regulatory approval for the closure of the Transaction within 12 to 24 months from the announcement date of 31 July 2019.
Further announcements will be made if and when required.
This is a public announcement by GrandVision N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).
Attachment
- GrandVision Arbitration Press Release (https://ml-eu.globenewswire.com/Resource/Download/575c0dae-1c29-4ea9-a1b5-21b26d2f4433)
