Luxottica, Essilor in 45-billion euro merger deal to create eyewear giant: Source
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Jean-Christophe Verhaegen | AFP | Getty Images
Ophthalmic lenses on display in the laboratory of an Essilor factory.
Italy's Luxottica and France's Essilor have agreed a 45-billion euro merger deal to create a global powerhouse in the eyewear industry, a source with knowledge of the matter said.
The deal, one of Europe's largest cross-border tie-ups, is expected to be announced before the market opens on Monday. It will see Luxottica's 81-year old founder Leonardo Del Vecchio take a 31 percent stake in the merged group through his family holding Delfin, the source said.
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