The deal is expected to close in the 'first part of 2018.'
CHARENTON-LE-PONT, FRANCE and MILAN, ITALY – Essilor and Luxottica announce that their proposed merger has received the OK from authorities in both the U.S. and Europe.
The deal was approved by the U.S. Federal Trade Commission and the European Commission without conditions.
To date, the transaction has also been unconditionally approved in 13 other countries: Australia, Canada, Chile, Colombia, India, Japan, Mexico, Morocco, New Zealand, Russia, South Africa, South Korea and Taiwan.
The merger is expected to be finalized in the first part of 2018. The Financial Times reports that one major remaining step is securing approval from antitrust regulators in China.
Milan, Italy-based Luxottica's proposed deal with Essilor, a France-based maker of lenses as well as instruments and equipment, is valued at 48 billion euros (U.S. $56.5 billion). The combined company would be called EssilorLuxottica.
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