GrandVision informed of summary proceedings initiated by EssilorLuxottica
Schiphol - 18 July 2020.
GrandVision NV (Euronext: GVNV) has been informed by EssilorLuxottica SA (Euronext: EL) that it has initiated summary proceedings before the District Court in Rotterdam, demanding that GrandVision provides to EssilorLuxottica additional information in relation to GrandVision's actions to mitigate the impact of COVID-19 on its business. GrandVision strongly disagrees with EssilorLuxottica's demands and has full confidence that these claims will be rejected in court.
GrandVision has also received notice from EssilorLuxottica claiming that GrandVision, in relation to the aforementioned COVID-19 actions, is in material breach of its obligations under the Support Agreement concluded in connection with the envisaged sale by HAL Optical Investments B.V. of its 76.72% ownership interest in GrandVision to EssilorLuxottica. GrandVision strongly disagrees with these claims and has responded accordingly.
GrandVision continues to support EssilorLuxottica with the shared objective to obtain regulatory approval for the closure of the Transaction within 12 to 24 months from the announcement date of 31 July 2019.
Further announcements will be made if and when required.
This is a public announcement by GrandVision N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or any solicitation of any offer, to buy or subscribe for any securities.
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