BRUSSELS, Belgium — Italy's Luxottica and French glasses group Essilor are set to win unconditional EU antitrust approval for their 48-billion-euro ($56.8 billion) merger, two people familiar with the matter said on Thursday.
The deal between Luxottica, the world's biggest eyeglass frame maker, and Essilor, the world No. 1 lens maker, would create a company that would make products ranging from Ray-Bans to Giorgio Armani frames and have a major eyeglass retail outlet.
The European Commission, which had some initial concerns about the mega deal, declined to comment. Luxottica also declined to comment.
The deal was worth 46 billion euros when it was unveiled in January. The companies' higher share prices since then has pushed up the figure to 48 billion euros.
Luxottica's brands include Ray Ban and Persol, and licensed names such as Chanel and Armani.
By Foo Yun Chee and Julia Fioretti, with additional reporting by Agnieszka Flak in Milan; Editor: Philip Blenkinsop.