EVENTS 2007
KEY EVENTS OF 2007
January
Luxottica Group launches a cash tender offer for a further 20% of Ray Ban Sun Optics India Ltd. in accordance with a decision of the Indian Supreme Court dated December 12, 2006 for a total of around Euro 13 million, bringing its share ownership level to 70.5%.
March
In South Africa, Luxottica annouces tne acwuisition of the country’s two most prominent sun retail
chains yielding a total of 65 new stores, with stores located in top range shopping malls in urban
areas (such as Johannesburg and Cape Town) and in exclusive retail outlets in airports.
The board of directors approves a series of measures bringing the Group’s corporate governance
system in line with Borsa Italiana’s new Code of Self-Discipline.
June
Luxottica signs a definitive agreement to acquire Oakley, Inc. The agreement provides for the acquisition of all outstanding Oakley shares for US$ 29.30 per share in cash for a total price of approximately US$ 2.1 billion.
August
Luxottica Group mandates a group of primary banks to organize, underwrite and disburse credit lines worth a total US$ 2 billion. The credit is in the form of an amortizing term loan and a bridge loan.
October
The first ILORI store opens in SoHo, New York, officially launching Luxottica in the top end of the luxury segment in response to current trends in the American market.
November
Luxottica celebrates its first ten years in China and reiterates its full commitment to doing business in the country, where it has two production plants operated by Luxottica Tristar and approximately 250 stores and offices in the three main cities (Beijing, Shanghai and Hong Kong).
Luxottica completes its acquisition of Oakley, Inc. Oakley shares are delisted from the NYSE.