EssilorLuxottica and GrandVision enter into an agreement with ORIG BENE, a member of MPG Austria, for the sale of stores in the Netherlands and Belgium
Charenton-le-Pont, France, Schiphol, the Netherlands and Graz, Austria (23 December 2021 - 7:30 pm CET) - EssilorLuxottica, GrandVision and the Optic Retail International Group BENE, a member of MPG Austria ("ORIG/MPG"), announced today that they have entered into an agreement for ORIG/MPG to acquire 142 EyeWish stores in the Netherlands and 35 GrandOptical stores in Belgium. This follows the commitments agreed upon with the European Commission on 23 March 2021, as part of the acquisition of GrandVision by EssilorLuxottica.
The agreement between EssilorLuxottica, GrandVision and ORIG/MPG also provides for transitional agreements to support the business continuity of the divested perimeters following the implementation of the transaction.
Completion of the transaction among EssilorLuxottica, GrandVision and ORIG/MPG is subject to the approval of the European Commission, as part of the commitments' procedure. The transaction is expected to close in the first quarter of 2022.
Advisors to EssilorLuxottica and GrandVision: Mediobanca - Banca di Credito Finanziario and Lazard acted as financial advisors, Sullivan & Cromwell and Stibbe served as M&A legal advisors, BonelliErede as antitrust advisor and IG&H and Deloitte Finance as carve-out advisors. Additionally, De Brauw Blackstone Westbroek continued to support GrandVision as legal advisor.
Advisors to ORIG/MPG: mk05 as M&A and financial advisor, Loyens & Loeff as M&A legal counsel and MPG as due diligence and commercial support.
Attachment
- GrandVision and EssilorLuxottica_Press Release (https://ml-eu.globenewswire.com/Resource/Download/45e24333-bfc8-4ef4-b40a-67ae7dc6c4b1)
