GrandVision confirmed the Turkish competition regulator (Rekabet Kurumu) has cleared the transaction between EssilorLuxottica and HAL for the sale of HAL’s interest in GrandVision. This clearance is effective immediately.
As part of the clearance process, EssilorLuxottica has committed to a number of behavioral remedies.
With the conditional approval of the Turkish competition regulator, all regulatory approvals for closing of the transaction have been obtained.
The arbitration proceedings initiated by GrandVision against EssilorLuxottica, in which GrandVision has requested the arbitral tribunal to confirm, amongst other things, that GrandVision is not in material breach of the Support Agreement concluded in connection with the Transaction, as well as the arbitration proceedings initiated by HAL against EssilorLuxottica in connection with the Transaction, are ongoing. These proceedings are confidential. A decision in the above mentioned arbitration proceedings is expected in the second half of June 2021.
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