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“By joining forces today, these two international players can now accelerate their global expansion,” Hubert Sagnières, the Essilor chairman and chief executive, said in a news release.
The transaction is expected to close in the second half of the year, but requires regulatory and shareholder approval.
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The deal follows more than four years of talks. The new company would have more than 140,000 employees and sales in more than 150 countries.ray ban outlet online Based on 2015 results, it is forecast to have revenue of more than 15 billion euros, or about $16 billion, in 2016.
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Mr. Del Vecchio would serve as executive chairman and chief executive, while Mr. Sagnières would serve as executive vice chairman and deputy chief executive.
The company’s 16-member board would consist of eight directors nominated by Essilor and eight nominated by Delfin