Grandvision Says Court of Appeal Dismissed EssilorLuxottica Claims

By Joe Hoppe

Grandvision NV said Wednesday that the Amsterdam Court of Appeal has ruled in its favor and dismissed all claims made by EssilorLuxottica SA to receive additional documentation concerning Grandvision's actions to mitigate the impact of the coronavirus pandemic.

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

Grandvision had said on Aug. 24 that a district court dismissed the claims EssilorLuxottica, though the company appealed the decision on Sept. 4.

Grandvision, which on July 30 said it had launched an arbitration case against the Franco-Italian optical giant, said proceedings are advancing as planned. These proceedings are confidential and behind closed doors, the Dutch company said.

Grandvision reiterated its support for EssilorLuxottica with the shared objective to obtain regulatory approval for the closure of the transaction before July 31.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

04-07-21 0126ET