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Purchase completed on 31 May 2022

Luxottica now owns 91 percent of Fedon

In mid-April, the Luxottica Group announced its intention to acquire the company Giorgio Fedon & Figli S.p.A.. On 31 May, the acquisition of the 90.9% shareholding was completed: 1,727,141 ordinary shares of the company, at a price of 17.03 euros per share and a total of approximately 29.4 million euros, changed hands.

Fedon 1919 Logo Trolley
Picture: Fedon

Further to the press release dated 11 April 2022, with execution of the preliminary purchase agreement entered into on the same date between Luxottica Group S.p.A., a company managed and coordinated by Essilorluxottica S.A., and the major shareholders of the Fedon Company  and other non-significant shareholders, Luxottica announced on 31 May the completion of the purchase of the 90 per cent stake.

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Giorgio Fedon & Figli S.p.A., listed on Euronext Growth Milan, organised and managed by Borsa Italiana S.p.A., sold 1,727,141 ordinary shares, at a price of €17.03 per share, for a total consideration of approximately €29.4 million, to Luxottica.

As a result of the acquisition of the shareholding, the legal conditions for Luxottica’s obligation to make a mandatory tender offer for the outstanding 151,721 ordinary shares of Giorgio Fedon & Figli S.p.A. have occurred.

 

Source: EssilorLuxottica

 

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