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> 70 | ANNUAL REPORT 2009
Pro forma data may not be indicative of the results that would have been obtained had these events actu-
ally occurred at the beginning of the periods presented, nor does it intend to be a projection of future
results.
b) Other acquisitions
The following is a description of other acquisitions and investments. No pro forma fi nancial information is
presented, as these acquisitions were not material, individually or in aggregate, to the Company's consoli-
dated fi nancial statements.
On July 16, 2009, the Company closed an agreement with Multiopticas Internacional S.L. (MOI), a company
that owns over 390 eyewear stores operating under the GMO, Econoptics and SunPlanet retail brands in
Chile, Peru, Ecuador and Colombia, pursuant to which Luxottica acquired a 40 percent participation in
MOI. The total consideration paid for the acquisition of MOI was Euro 41.4 million. The purchase price
was paid in two installments, each of them equal to 50 percent of the purchase price. The fi rst installment
was paid on the closing date on July 16, 2009, the second installment was paid in January 2010. Under the
terms of the agreement, the Company has a call option for the remaining 60 percent of MOI. The call op-
tion will be exercisable by the Company between 2012 and 2014 at a price to be determined on the basis
of MOI’s sales and EBITDA values at the time of the exercise. The difference between the carrying amount
and the amount of underlying equity in net assets was Euro 32.5 million as of acquisition date and was
mainly allocated to goodwill. There were no signifi cant intangibles realized or other fair value adjustments
associated with the acquisition.
On July 31, 2008, Sunglass Hut UK Ltd. ("SGH"), an indirect wholly-owned subsidiary of the Company,
issued new shares of common stock and paid an aggregate of GBP 600,000 to the shareholders of Optika
Holdings Limited ("OHL") for all the outstanding shares of OHL. OHL through its subsidiaries operated a
chain of ophthalmic retail locations throughout the UK and Ireland under the brand name "David Clulow".
The total consideration exchanged for the OHL acquisition was Euro 22.1 million (approximately GBP 17.5
million). OHL was a joint venture owned 50% by the Company and 50% by a third party. Upon the comple-
tion of this transaction the Company owns, directly and indirectly, approximately 66% of SGH and OHL (the
"combined entity"). As a result of the acquisition the former shareholders of OHL received a minority stake
of the combined entity of 34% and a put option to sell the shares to the Company, while the Company was
granted a call option on the minority stake. The acquisition of the Company’s additional interest in OHL
was accounted for as a business combination. The Company used various methods to calculate the fair
value of the assets acquired and the liabilities assumed. The goodwill recorded in the consolidated fi nan-
cial statements as of December 31, 2008 totaled Euro 18.1 million. There were no signifi cant intangibles
realized or other fair value adjustments associated with the business combination.
In February 2007, the Company completed the acquisition of certain assets and assumed certain liabilities
of D.O.C Optics Corporation and its affi liates, an optical retail business with approximately 100 stores
located primarily in the Midwest United States of America for approximately Euro 83.7 million (US$ 110.2
million) in cash. The purchase price, including direct acquisition-related expenses, was allocated to the
assets acquired and liabilities assumed based on their fair value at the date of the acquisition. The goodwill
recorded in the consolidated fi nancial statements as of December 31, 2007 totaled Euro 70.4 million, of
which Euro 64.9 million was deductible for tax purposes. The Company used various methods to calculate
the fair value of the assets acquired and liabilities assumed. The fi nal allocation of the purchase price among
the assets and liabilities acquired and the amount of the goodwill was completed in 2008 resulting in no
material differences from the purchase price allocation done in 2007. The acquisition was made as a result
of the Company’s strategy to continue expansion of its retail business in the United States of America.
During 2007, in compliance with the 2006 decision of the Supreme Court of India, the Company launched
a public offering to acquire an additional 31 percent of the outstanding equity share capital of RayBan