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The Franco-Italian optical giant has taken note of the court decision of August 24, 2020 by the Dutch court in the summary proceedings it initiated against GrandVision.
Recalling that in mid-July, EssilorLuxottica had filed a petition with the Rotterdam court demanding information on the impact of the coronavirus crisis on the GrandVision group (Grand Optical, Solaris and Générale d’Optique).
The court rejected EssilorLuxottica’s request for access to information from GrandVision and HAL, its majority shareholder, on how the latter managed its business during the Covid-19 health crisis.
In turn, GrandVision and HAL then initiated arbitration proceedings against the Franco-Italian group on July 30. This procedure follows its course, it said Monday.
“It should also be noted that the information and data entered on GrandVision’s premises with the express permission of the court will remain protected from any alteration and available for subsequent proceedings,” Essilor said in a statement.
That said, the optical lens specialist said it is studying the judgment and assessing its remedies, including the possibility of appeal.
It should also be noted that the European Commission, which fears that the takeover of GrandVision by EssiloLuxiticca will lead to reduced competition in the wholesale market for eyeglasses and lenses as well as in the retail market for optical products, opened an in-depth investigation in February.
It was in July 2019 that the Franco-Italian giant announced its intention to acquire the 76.72% stake of HAL Holding N.V in GrandVision at a price per share of 28 euros, valuing the Dutch company at 7.1 billion euros.
Read also > LUXURY GLASSES : ESSILORLUXOTTICA’S LAWSUIT AGAINST GRANDVISION TO OBTAIN INFORMATION
Featured photo: © EssilorLuxottica
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The Franco-Italian optical giant has taken note of the court decision of August 24, 2020 by the Dutch court in the summary proceedings it initiated against GrandVision.
Recalling that in mid-July, EssilorLuxottica had filed a petition with the Rotterdam court demanding information on the impact of the coronavirus crisis on the GrandVision group (Grand Optical, Solaris and Générale d’Optique).
The court rejected EssilorLuxottica’s request for access to information from GrandVision and HAL, its majority shareholder, on how the latter managed its business during the Covid-19 health crisis.
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`The Franco-Italian optical giant has taken note of the court decision of August 24, 2020 by the Dutch court in the summary proceedings it initiated against GrandVision.
Recalling that in mid-July, EssilorLuxottica had filed a petition with the Rotterdam court demanding information on the impact of the coronavirus crisis on the GrandVision group (Grand Optical, Solaris and Générale d’Optique).
The court rejected EssilorLuxottica’s request for access to information from GrandVision and HAL, its majority shareholder, on how the latter managed its business during the Covid-19 health crisis.
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