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US regulator gives clearance to Essilor-Luxottica merger

The U.S. Federal Trade Commission has approved the proposed €48 billion merger of French ophthalmic lens maker Essilor International SA and Italian eyewear seller Luxottica Group SpA.

The antitrust agency cleared the proposed deal without any attached conditions, according to a March 1 statement by Luxottica. The EU also gave its approval the same day.

A combined Essilor-Luxottica entity would have a presence in more than 150 countries with revenue of over €15 billion.

The proposed merger is expected to be finalized in the first part of 2018, after getting all necessary authorizations.

In addition to the EU and U.S., 13 other countries have given unconditional approval to the deal: Australia, Canada, Chile, Colombia, India, Japan, Mexico, Morocco, New Zealand, Russia, South Africa, South Korea and Taiwan.