AFP
Barbara Santamaria
Mar 6, 2019
Luxottica leaves Milan stock exchange
AFP
Barbara Santamaria
Mar 6, 2019
Italian eyewear group Luxottica delisted from the Milan stock exchange on Tuesday following its merger with France’s Essilor, which is listed on the Paris stock exchange.
Luxottica is now controlled by the new EssilorLuxottica, which has been listed under the same name on the Paris stock exchange since 2 October.
The process has been carried out in several phases. It started with Delfin, Luxottica founder Leonardo Del Vecchio’s family holding, contributing its 62.42% stake in Luxottica to Essilor, followed by a mandatory exchange offer for the remaining issued and outstanding Luxottica shares.
Essilor and Luxottica completed their merger on 1 October, becoming the largest player in the global eyewear industry. The new group has a combined annual turnover of more than 16 billion euros.
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