This article is more than 5 years old. Information may no longer be current.
Proposed Essilor, Luxottica merger approved in China
Click Here to Manage Email Alerts
Essilor and Luxottica announced that the antitrust regulator of China, the State Administration for Market Regulation, has approved the proposed combination of the two companies after certain commitments were made regarding the conduct of their business in China, according to a joint press release.
The companies committed to inform the organization about any future acquisitions and to ensure availability of their products and services to all customers in China on a fair basis.
Clearance from the Chinese authority was the last condition precedent to the closing of the transaction and paves the way for the combination to be finalized, according to the release.
The companies are also progressing with the Turkish antitrust authority and expect the closing of the transaction at the end of the third quarter, they reported.