Essilor International SA (ESSI.PA)
* France's former president Nicolas Sarkozy to join board of directors in replacement of Nadra Moussalem until 2018 shareholders assembly
Feb 17 Essilor chief operating officer Laurent Vacherot says:
PARIS, Feb 17 Essilor, the world's largest maker of ophthalmic lenses, forecast 2017 revenue growth of between 3 and 5 percent at constant exchange rates and predicted a higher level of growth and profitability in the second half of the year.
* Says profit attributable to equity holders up 7.4% versus 5.9 pct revenue growth
MILAN Italian eyewear group Luxottica has agreed to buy Brazilian optical chain Oticas Carol in a 110 million euro ($117 million) deal that expands its retail footprint in the South American country.
The group created by the merger of Italy's Luxottica and France's Essilor will consider a listing in both Italy and France, as well as the United States, Luxottica founder Leonardo del Vecchio was quoted as saying on Tuesday.
MILAN/PARIS Italy's Luxottica and France's Essilor have agreed a 46 billion euro ($49 billion) merger to create a global eyewear powerhouse with annual revenue of more than 15 billion euros. | Video
* Share prices of both companies rise sharply (Writes through, adds quotes, detail, background and analysts)
European stocks extend losses, Essilor and Luxottica surge on merger news. For more see the European equities LiveMarkets blog
LONDON, Jan 16 Live coverage of European markets now available on cpurl://apps.cp./cms/?pageId=livemarkets
LONDON (Reuters Breakingviews) - Luxottica and Essilor's plan to merge looks more corrective than visionary. The Italian eyewear group is backing a 50 billion euro union with the French lens-maker, and Luxottica founder Leonardo Del Vecchio is willing to cede control and some value to get the deal done. For the Italian group's other shareholders, that's probably a fair price for fixing governance issues, and perhaps selling more specs.