FED Giorgio Fedon

By Kim Richters

Luxottica Group SpA said late Monday that it has agreed to acquire the majority of Giorgio Fedon & Figli SpA for 29.4 million euros ($32 million).

The eyewear company said it has signed a preliminary sale-and-purchase agreement to buy 1,727,141 shares in Milan-listed Giorgio Fedon & Figli for a price of EUR17.03 a share. Under the agreement, Luxottica would buy 90.9% of Giorgio Fedon & Figli.

Upon completion, Luxottica would make a mandatory tender offer at the same price for the remaining shares with the aim of delisting the company.

The closing of the deal is subject to certain conditions, such as antitrust clearances, and expected in June, the company said.

Luxottica Group is part of EssilorLuxottica SA.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

April 12, 2022 01:43 ET (05:43 GMT)

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