The antitrust regulator of the People’s Republic of China, SAMR, has approved the proposed combination of Luxottica and Essilor after they made certain commitments with regard to the conduct of their business in China.
Luxottica and Essilor committed to inform SAMR about their future acquisitions and also to ensure availability of their products and services to all customers in China on a fair basis.
clearance from the Chinese authority… paves the way for the combination to be finalised
According to a statement released by Luxottica, “These commitments are fully aligned with the future EssilorLuxottica’s mission to ‘help people see more, be more and live life to its fullest’ and the open business model both companies promote across the globe.”
Luxottica states that clearance from the Chinese authority was the last condition precedent to closing the transaction and paves the way for the combination to be finalised. The two companies are also progressing with their discussions with the Turkish antitrust authority and expect the closing of the transaction at the end of the third quarter.