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Essilor reorganizes ahead of merger

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The Board of Directors of Essilor International confirmed that the reorganization where its holdings will be transferred to a subsidy, called a hive down, will be completed by the end of 2017, according to a company press release.

The hive down was confirmed in May. Through this process, Essilor will contribute its activities and equity holdings to its renamed subsidy Essilor International1, previously Delamare Sovra.

This significant step in the process of the Essilor and Luxottica merger was announced earlier this year.