(MENAFN) French lens maker Essilor has confirmed to buy Italy's Ray-Ban sunglasses in an offer to make a new global giant in the sector.
Meanwhile, shares in Essilot surged by almost 14 percent on the Paris stock exchange and Luxottica shares were more than 7.6 percent in Milan.
Moreover, the joined group will have market capitalization of almost USD49bn, based on both firms" closing share prices.
In addition, Luxottica founder will hand over his share to Essilor, which will launch a pubic bid to buy the remaining shares.
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