essilor luxottica merger investor presentation

However, as the deal is still pending conditions may vary. Essilor Chairman and CEO, Hubert Sagnières, would serve as Executive Vice-Chairman and Deputy CEO of EssilorLuxottica with equal powers as the Chairman and CEO. Here you will find the list of the upcoming financial events of the EssilorLuxottica Company. Voting rights capped at 31% for all Access financial releases and publications of Essilor International (Compagnie Générale d’Optique) (renamed EssilorLuxottica on October 1st, 2018) prior to the combination and financial releases and publications of Luxottica (a 62% subsidiary of EssilorLuxottica, publicly listed on … EssilorLuxottica’s Investor Relations and Financial Communications department is available to answer any questions. “This marriage will take place and will work,” he said. Le cours de l'action ESSILORLUXOTTICA EL en temps réel sur Boursorama : historique de la cotation sur Euronext Paris, graphique, actualités, consensus des analystes et informations boursières Investor Relations contacts; Email Investor Alerts; IR Policy; Newsroom. Press releases: Reports: Presentation: Medias: Transcriptions: July 26, 2018 Proposed combination between Essilor and Luxottica approved in China: PDF - 218 KB: June 29, 2018 Essilor and Delfin extend the deadline of the Combination Agreement. The company, formed by a 46 billion euro ($56 billion) union of France's Essilor and Italy's Luxottica, had given itself until the end of 2020 to find a new CEO - a compromise candidate to appease both sides. The combination of Essilor and Luxottica X This website or third-party tools used by the site itself use the cookies necessary for operation and useful for the objectives illustrated in the cookie policy, including the possibility of sending you advertisements according to your interests. The EssilorLuxottica Board of Directors would consist of sixteen members: Essilor International, after completing the hive-down noted above, and Luxottica would maintain their respective Board of Directors. Financial advisors: Citigroup Global Markets Limited and Rothschild & Co for Essilor, Mediobanca for Delfin, Legal advisors: Cleary Gottlieb Steen & Hamilton for Essilor, BonelliErede and Bredin Prat for Delfin. Financial Calendar. Luxottica operates a well-developed retail and wholesale network in both developed and emerging markets, along with innovative e-commerce platforms, engaging a new generation of digital consumers. Essilor and Luxottica are highly complementary businesses due to minimal overlap in ophthalmic lenses (Essilor) and sunglasses/frames (Luxottica). 25-Jul-13: Luxottica Group - 2Q13 Presentation - Presentation - Webcast - Transcript - Press release . Press releases: Reports: Presentation: Medias: Transcriptions: July 26, 2018 Proposed combination between Essilor and Luxottica approved in China: PDF - 218 KB: June 29, 2018 Essilor and Delfin extend the deadline of the Combination Agreement. Investor Relations contacts Analyst, investor or individual shareholder? Luxottica is a leader in the design, manufacture and distribution of fashion, luxury and sports eyewear. Join the Shares in Luxottica were up by 8.6 percent at 53.80 euros by 1405 GMT (9:05 a.m. The pending merger with Luxottica creates a global leader cross the value chain (lens, frame and sunglasses, retail, online) and synergies of €420-600 million. It markets its products in more than 100 countries and has 32 plants, 490 prescription laboratories and edging facilities, as well as five research and development centers around the world. Essilor et Luxottica : la fusion approuvée ouvre grand la voie du marché américain. Privacy He broke the (merger) pact signed in 2017,” Del Vecchio added. EssilorLuxottica's chair and vice-chair share, under the terms of the merger of Essilor and Luxottica last October, equal powers. It declined to comment on Thursday whether that search was still on. Sagnieres, 61, will serve as executive vice-chairman and deputy CEO, but he and Del Vecchio will have the same powers. Providing education, mentorship, and job Del Vecchio, who returned to the helm of Luxottica two years ago after taking a back seat for the previous 10 years, will be CEO and executive chairman of the merged group. This section contains presentations, videos, webcasts, podcasts, transcripts and press releases about Luxottica results and Investor Days from 2003 to date. Leonardo Del Vecchio and Hubert Sagnières would also keep their positions of Executive Chairman of Luxottica and Chairman and CEO of Essilor International, respectively. Team! For latest updates of cases follow this link updates of cases. have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. San Diego, CA 92103 It will also leave smaller rivals lagging even further behind. Call Us: +1 858-246-7066. Essilor Luxottica Investor & Analyst Conference Call Page | 1 16.01.2017 Essilor Luxottica Investor & Analyst Conference Call Monday, January 16, 2017 ... Chairman of Delfin and Executive Chairman of Luxottica Group. The merger is expected to boost operating profit by up to 600 million euros in the medium term, the companies said. Delfin main investments are in Luxottica Group SpA, Fonciere Des Regiones SA, Assicurazioni Generali SpA and Unicredit Spa. Founded in 1849, Essilor’s long history is bound to its mission of improving lives by improving sight. The combination would create a key player, operating across all segments of the eyewear industry. Essilor and Luxottica Merger - Official Press Release January 16th 2016. by Matt Geller, OD. This means that the merger would strengthen Luxottica’s product design process, back-end production and … A source close to the deal said that the two companies’ business models, operations and strategy have converged since then and that the merger makes more sense now, given growing competition. Enter this section to read more and get in touch with the Financial Communication and Investor relations team. “Finally ... two products which are naturally complementary -- namely frames and lenses -- will be designed, manufactured and distributed under the same roof,” Luxottica’s 81-year-old founder Leonardo Del Vecchio said in a statement on Monday. “The strategic rationale is strong,” JPMorgan Cazenove analysts said in a note, adding that the deal defuses the risk of growing competition between two groups that had been encroaching on each other’s areas of expertise in recent years, with Essilor buying online retailers and Luxottica investing in lens manufacturing. To support this mission, Essilor allocates more than €200 million to research and innovation every year, in a commitment to continuously bring new, more effective products to market. Delfin S.à.r.l, the majority shareholder of Luxottica Group S.p.A. and Essilor International (Compagnie Générale d’Optique), today announced the successful completion of the combination of Essilor and Luxottica. Investors Flutter has access to an attractive and growing global market, and is well positioned for success with substantial online scale, distinctive brands, and leading sports and gaming capabilities. Its flagship brands are Varilux®, Crizal®, Transitions®, Eyezen™, Xperio®, Foster Grant®, Bolon™ and Costa®. Based on the companies’ 2015 results, the new company would have posted combined net revenues of more than €15 billion and combined net EBITDA of approximately €3.5 billion. January 16, 2017 – 6.45 a.m CET – Essilor and Delfin today announce the signing of an agreement designed to create an integrated player dedicated to visual health and superior consumer experience through a combination of Essilor [Euronext Paris: EI] and Luxottica Group [MTA: LUX; NYSE: LUX]. Investor Relations. The Board of Directors of Essilor held on January 15, 2017 unanimously approved the agreement with Delfin, which it considered to be in line with the best interests of shareholders, employees and other stakeholders, and decided to initiate the information and consultation of its works councils on the basis of such proposed transactions. Investor Relations & Corporate Communications . Since their impending merger was announced in January, there has been remarkably little comment about the huge proposed deal to combine Essilor and Luxottica. The Italian company’s equity is valued at €22.79bln, based on the previous exchange ratio and on the Essilor share price of €102.1 and 484.16 million Luxottica shares outstanding. The Board of Directors of Luxottica, held on the same day, unanimously acknowledged that the transaction is in the best interest of Luxottica and shared the strategic rationale of the business combination. : +39 (02) 8633 4870. EssilorLuxottica General Meeting to be reconvened: PDF - 179 KB Press releases; Gallery; Stories; Contact; Search. Moody's Investors Service 20 May 2020 Announcement of Periodic Review ... FAQ on Essilor's Planned Merger with Luxottica. 62%) to Essilor in return for newly-issued Essilor shares to be approved by the Essilor shareholders meeting, on the basis of the Exchange Ratio of 0.461 Essilor shares for 1 Luxottica share, and (ii) Essilor subsequently making a mandatory public exchange offer, in accordance with the provisions of Italian Law, to acquire all of the remaining issued and outstanding shares of Luxottica pursuant to the same Exchange Ratio and with a view to delist Luxottica’s shares. Counsel for Essilor and Luxottica, the merging parties, retained Cornerstone Research and Ravi Dhar of Yale University to investigate the validity of specific claims made by the European Commission in its Phase II investigation of the proposed merger. Codes and symbols: ISIN: FR0000121667; Reuters: ESSI.PA; Bloomberg: EI:FP. The Essilor share trades on the Euronext Paris market and is included in the Euro Stoxx 50 and CAC 40 indices. Rayban maker EssilorLuxottica said on Thursday it has rejigged an executive power sharing arrangement put in place when the company was created by a merger in 2018, promoting two internal managers to the top executive roles. It will also have a complex governance structure, with Del Vecchio and Essilor Chairman and CEO Hubert Sagnieres effectively sharing the driving seat, while the 16-strong board will have an even split of Essilor and Luxottica executives. Please dial-in at the following numbers: +33 (0)1 76 77 22 57 or +44 (0)330 336 9411 (access code: 6153751). They have been locked in … Voting rights will be capped at 31 percent. The dates below are given for information purposes only and may be modified. Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. Francesco Milleri, originally of Luxottica, will become chief executive with Paul du Saillant, of Essilor, stepping up as deputy CEO, the group said, until its shareholder meeting in 2021. The Essilor Luxottica merger is the largest in the history of global eye care – exceeding the value of the Alcon Novartis merger by about four times with a combined market capitalisation of almost AU$65 billion. Essilor would become a holding company with the new name “EssilorLuxottica” via a hive-down of all of its operating activities into a wholly-owned Company, to be called Essilor International, and the contribution by Delfin of its Luxottica shares. Essilor Luxottica Merger is COMPLETE. Finally, after fifty years, two products which are naturally complementary, namely frames and lenses, will be designed, manufactured and distributed under the same roof". Luxottica Group is a leader in premium, luxury and sports eyewear with over 7,400 optical and sun retail stores in North America, Asia-Pacific, China, South Africa, Latin America and Europe, and a strong, well-balanced brand portfolio. Related Coverage On the surface, everything about combining Essilor and Luxottica makes complete sense. Luxottica said in September 2014 that discussions had taken place in 2013 but were dropped for a number of reasons, including shareholding governance issues. “As soon as the first general assembly of the new group on Nov. 29, he behaved as if Essilor had bought Luxottica. Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. Analysts said that Essilor shareholders are getting a good deal because the share exchange ratio implies a 5 percent discount to Luxottica’s closing price on Friday, which was down 27 percent from its 2015 peak. But there certainly should be. The company has built a strong culture of employee shareholding combined with a unique governance model that associates employees with the company’s decision-making process. Essilor succeeded in bringing innovative solutions to ophthalmic lenses and creating internationally-recognized brands (Varilux®, Crizal®, Transitions®) offering tailored correction solutions for all of its consumers’ needs. The deal also removes -- for now at least -- uncertainty over succession at Luxottica, which has lost three CEOs since 2014 because of rifts with Del Vecchio. The French lens maker will launch a mandatory exchange offer on all remaining Luxottica shares at the same ratio, with the aim of delisting Luxottica’s shares. Its mission is to improve lives by improving sight. During the presentation, all participants will be in a listen only mode. Leveraging its cutting-edge methods, Essilor also developed new approaches in the sunwear segment and online retail. But for the manufacturers such as Essilor and Luxottica, it is a stonkingly profitable business. Synergies were at the core of the 48 billion euro merger of Essilor, known for its Varilux lenses, and Luxottica - the owner of brands such as Ray-Ban, Oakley or Persol. Both companies have been grappling with slowing sales growth, hit by weakness in North America, and face rising competition from cheaper rivals and the challenge of online distribution. PARIS — Six months after the merger of eyewear giants Luxottica and Essilor to create a world leader in its domain, in-fighting between the combined group’s two heads is making waves. Together, Essilor and Luxottica will be in a stronger position to address the vision needs of the 7.2 billion people in the world out of which 2.5 billion people still suffer from uncorrected vision problems. Third Point, the US hedge fund that has pushed for changes at companies ranging from Nestle to Campbell Soup, has amassed a stake in Ray-Ban … Retained by Cleary Gottlieb Steen & Hamilton and by BonelliErede. Rayban maker EssilorLuxottica said on Thursday it has rejigged an executive power sharing arrangement put in place when the company was created by a merger in 2018, promoting two internal managers to the top executive roles. Essilorluxottica ’ s Investor Relations and financial Communications department is available to answer any.! Businesses ( the “ Transaction ” ) leave smaller rivals lagging even behind... 61,000 people worldwide merger ) pact signed in 2017, ” he said of cases segment and retail! 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