Fusion 50 billion between the company and the French Essilor – The Republic

MILAN - the company she married him with the French Essilor, merger by 50 billion euros. The news, early in the night between Sunday and Monday, from the Financial Times, have been confirmed prior to the opening of the markets by the companies involved. And he has put the wings in the title of the Italian company, which at Piazza Affari has struggled to make the price at the start of the day but then-record and strong purchase orders (keeping track of).

As has been pointed out before, the daily newspaper of the City, the agreement is born a global leader in the eyewear sector. Leonardo del Vecchio, will be the major shareholder of the company who will be born from the union. It will be the first member of a colossus by more than 140,000 employees and sales in more than 150 Countries. On the basis of the annual results of the 2015 of the two companies, the simple sum gives life to a reality, from net revenues of more than 15 billion euros and an operating margin net income combined of about 3.5 billion. For Delfin, the safe Of the Old, will be guaranteed a share of between 31% and 38%.

The patron of the society of Agordo in the province of Belluno, will be the executive chairman of the company, while the chief executive officer of Essilor, Hubert Sagnieres, will be the executive vice president. The company will be traded in New York. The agreement is able to change the dynamics of the industry of the glasses, and a market of 90 billion euros, considered to be one of the sectors with stronger growth. According to analysts, the prospects for the industry are, in fact, “optimistic”, with the sector expected growth of over 2% until 2020.

To push sales is the demographic change, especially in Asia. Of the 7.3 billion people in the world, 63 percent are in need of corrective lenses, but only 1.9 billion has already purchased glasses, lenses or undergoing surgeries. According to the estimates, are in need of glasses about 2.6 billion people, particularly in Asia, Africa and Latin America.

Essilor and Luxottica had already assessed an agreement three years ago, when Sagnieres had contacted Luxottica. The negotiations, however, were not take to the skies between the scepticism of The Old one. Essilor since then has undergone a restructuring, which has become a society that is more consumer-oriented and, reports the Financial Times, the more ‘adattà to the company. Analysts thought that a merger between Essilor and Luxottica would have been positive, providing a succession plan for the group, given the 20 years difference in age between The Old and Sagnieres.

“With this transaction, you realized my dream to give life to a sample in the field of optics, fully integrated and excellent in every part. We knew from the time that this was the right solution, but only now have developed conditions that have made it possible.” A transaction in which he was working with Mediobanca, the only advisor Of Old, from 4 years. “Finally, after fifty years of waiting, two parts, of course, complementary, frames and lenses, will be designed, implemented, and distributed under the same roof.”

Topics:

Luxottica

Essilor

the merger, luxottica essilor

Starring:

Leonardo Del Vecchio