Either Essilor will buy out PPG, or PPG Essilor, there is a divorce in the works after 22 years of marriage.
Guess who will probably own Transitions in whole.
PITTSBURGH— PPG Industries, Inc. (NYSE:PPG) announced today that it is currently in discussions withEssilor International (ESSI.PA) relating to the future of PPG’s and Essilor’s joint venture, Transitions Optical, a leading provider of photochromic lenses to optical manufacturers and a consolidated subsidiary of PPG. PPG is the majority shareholder in Transitions Optical, which was formed in 1990, holding a 51 percent interest in the joint venture companies. Essilor holds the remaining 49 percent interest and is also the largest customer of Transitions Optica
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