Several firms see out optician deal in Chile
Lily Squires
Sullivan & Cromwell LLP in London and Paris has helped Dutch company GrandVision sell its Chilean operations, Rotter y Kraus, as part of its global merger with EssilorLuxottica, the world’s largest eyewear company.
EssilorLuxottica turned to Chilean firm Carey for the deal.
Philippi Prietocarrizosa Ferrero DU & Uría (Chile) advised the buyer, Dutch company HAL Investments.
The deal, valued at US$95 million, closed on 1 July.
The transaction is part of EssilorLuxottica’s US$6.5 billion acquisition of HAL Investments’ interest in GrandVision, which was announced back in August 2019. The international deal will give French-Italian company EssilorLuxottica a 77% stake in the optical retail brand.
To complete the Chilean leg of EssilorLuxottica’s merger with GrandVision, the Chilean competition regulator, Fiscalía Nacional Económica, required the latter to divest Rotter y Kraus.
Rotter y Kraus operates 97 stores across Chile and is the nation’s leading optician.
Counsel to HAL Investments
Philippi Prietocarrizosa Ferrero DU & Uría (Chile)
Partners Ignacio Larraín and Guillermo Infante, and associates Nicolás Santana, Magdalena Munita, Catalina Montero and Macarena Gaitán
Counsel to GrandVision
Sullivan & Cromwell LLP
Partners Richard Pollack and Oderisio de Vito Piscicelli in London, and partner Gauthier Blanluet in Paris
Counsel to EssilorLuxottica
In-house counsel - Valeria Rivera, Kelig Bloret, Alexander Lunshof, Alba Manganotti and Ana Silva Dias Hayes
Carey
Partner Claudio Lizana and associates Paulina Espinoza, Felipe Hepner, Daniela León and Oscar Lizana
