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3/23, 3:35 PM (Source: TeleTrader)
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EssilorLuxottica's GrandVision acquisition okayed by EU

The European Commission conditionally approved on Tuesday EssilorLuxottica SA's €5.5 billion purchase of GrandVision NV.

In exchange for the approval, EssilorLuxottica agreed to sell three eyewear chains and over 300 related stores in Belgium, Italy and Netherlands.

"The remedies proposed by EssilorLuxottica will address this risk by ensuring that competition at the optical retail level remains vibrant at national level and to the benefit of customers in these countries," Competition Commissioner Margrethe Vestager said.

Breaking the News / MD