By Adria Calatayud

Grandvision NV said Thursday that it has started arbitration proceedings against EssilorLuxottica SA, after the Franco-Italian optical giant sued the Dutch eyewear group earlier this month.

EssilorLuxottica, which last year agreed to buy GrandVision, said on July 18 that it filed proceedings before a district court in Rotterdam, Netherlands, to obtain information over the way the Dutch company has managed its business during the coronavirus crisis and to assess the extent to which it had breached its obligations under a support agreement between the two parties.

GrandVision on Thursday said it strongly disagrees with EssilorLuxottica's claims and reiterated that it isn't in material breach of the support agreement. The Dutch company said its arbitration case seeks to ensure that EssilorLuxottica complies with its obligations under the support agreement, in particular regarding merger clearance processes.

GrandVision said it continues to support EssilorLuxottica with the shared objective to obtain regulatory approval for the closure of the transaction. 



  Write to Adria Calatayud at adria.calatayud@dowjones.com