EU OKs Hal Holding to buy Italian eyewear Safilo Group
14 Dec '09
1 min read
The European Commission has cleared under the EU Merger Regulation the proposed acquisition of Safilo Group S.p.A. of Italy , a produc er and distribut or of spectacles and sunglasses , by Hal Holding N. V. of the Netherlands Antilles , an international investment group . After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.
HAL is an international investment group with stakes in companies operating worldwide, mainly in optical retailing. Safilo is a worldwide supplier of spectacles and sunglasses, with manufacturing and distribution activities in more than 130 countries. Safilo manufactures and distributes eyewear under both owned brands and license contracts on behalf of fashion brands.
The Commission's examination of the proposed transaction showed that the horizontal overlap and vertical relationships between the activities of Hal and Safilo are limited and that, for all products concerned, they will continue to face strong competition. The Commission therefore concluded that the proposed transaction would not give rise to competition concerns.
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