Report
Cedric Rossi

ESSILORLUXOTTICA: EL-GVNV merger: intensifying and complex negotiations with the European Commission... | BUY | EUR130(+7%)

ESSILORLUXOTTICA - BUY | EUR130(+7%)
EL-GVNV merger: intensifying and complex negotiations with the European Commission...

The likelihood of remedies is now high
Covid-19: friend or foe?
Antitrust risk remains N°1 risk since July 2019...
... but merger remedies are hard to anticipate
Playing defense if economic outlook worsens
Underlying
EssilorLuxottica SA

Essilor International (Compagnie Generale d'Optique) designs, manufactures and sells ophthalmic lenses, ophthalmic optical instruments and equipment. Co.'s activities are divided into three segments: Lenses and Optical Instruments (Co. designs, manufactures and customizes corrective lenses such as: Varilux (progressive lenses); anti-reflective, smudge-proof and anti-static lenses (Crizal); Nikon lenses, Transitions variable-tint lenses and Kodak lenses under agreements; polarized lenses (Xperio) and fog-proof lenses (Optifog)), Equipment (Co. produces, distributes and sells equipment and consumables used by prescription laboratories) and Readers (Co. designs and sells reading glasses).

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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