Sayenko Kharenko advises on disposal of majority stake in Luxoptica Group and creation of joint venture with EssilorLuxottica

Sayenko Kharenko has acted as legal counsel to OH Holding Limited in relation to the sale of a 51 per cent stake in the Luxoptica group of companies (Luxoptica Group) and the creation of a joint venture with Essilor Nederland Holding B.V., a subsidiary of EssilorLuxottica, the world’s largest manufacturer of eyewear products.

Sayenko Kharenko provided full-scope sell-side legal support for the transaction, including deal structuring, drafting and negotiating transaction documents, assisting with pre-sale restructuring of the target business, and deal implementation support including obtaining merger clearances, pre-closing, and closing assistance.

EssilorLuxottica is a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses. Formed as a result of a landmark merger of industry pioneers Essilor and Luxottica, the group operates influential eyewear brands, including Ray-Ban, Oakley, Burberry, Emporio Armani, Valentino, Scuderia Ferrari, Prada, Versace, and lens technology brands, including Varilux and Transitions.

Luxoptica Group is the largest Ukrainian player in the eyewear wholesale and retail market, providing its customers with comprehensive ophthalmic services, including vision screening, ophthalmology consultation, vision hardware treatment, manufacturing, and repair of glasses.

“We are pleased to announce the successful completion this landmark deal with EssilorLuxottica, as a result of which the joint venture will operate around 190 retail stores in Ukraine and should definitely benefit from EssilorLuxottica’s unique expertise in the ophthalmic industry and our comprehensive knowledge of the local market,” commented Inna Koval, the legal representative of Oleg Kalashnikov, the majority shareholder of OH Holding Limited.

Sayenko Kharenko’s corporate team was led by partner Oleksandr Nikolaichyk and associate Ilhar Hakhramanov with support from associates Yurii Dmytrenko, Mykola Lykhoglyad and Angelina Danyleiko. Senior associate Julia Kuyda and associate Igor Pomaz advised on antitrust matters under the supervision of partner Vladimir Sayenko. Partner Svitlana Musienko and associate Yurii Dmytrenko advised on tax matters. Partner Alina Plyushch and senior associate Dmitry Riabikin advised on foreign jurisdictions matters.

Related projects

24 January 2023

Projects

Sayenko Kharenko advises Goldman Sachs Asset Management on the acquisition of Cprime
23 January 2023

Projects

Sayenko Kharenko advises EBRD on EUR 25 million loan to the city of Lviv
12 January 2023

Projects

Sayenko Kharenko advised on the USD 895 million consent solicitation by Ukrainian Railways
Notification cookies

We use cookies to analyze the behavior of visitors
of our website and improve it. By using our website, you consent to these cookies in accordance with our Cookie Policy.