EssilorLuxottica wants to divest stores to acquire GrandVision

Ray-Ban manufacturer EssilorLuxottica proposed to the European Commission to sell off branches in three member states of the EU. The eyewear giant thus hopes to gain permission to take over GrandVision.

Counter-proposal

Last year, the European Commission asked the French-Italian group to sell stores in the Netherlands, Belgium, Italy and France as a prerequisite to get the green light for the acquisition of GrandVision. That would include the sale branches of the Dutch chains Pearle and EyeWish.

EssilorLuxottica has since managed to convince the European Commission to limit its request to three countries, writes French financial newspaper La Tribune. The eyewear giant submitted a counter-proposal to the Commission yesterday, but no further details are available.

The European Commission will now consult competitors, suppliers and customers before deciding whether to validate or reject the project. Alternatively, the Commission may ask for additional concessions. In principle, the decision will be made by April 12th.