LensCrafters 2007 Annual Report Download - page 14

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| 13 <
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.
KEY EVENTS
IN 2007