EssilorLuxottica Société anonyme (ENXTPA:EL) made an offer to acquire remaining 6.78% stake in Luxottica Group S.p.A. (BIT:LUX) for €1.7 billion on December 3, 2018. Under the terms of the consideration, Luxottica shareholders can chose a consideration of 0.4613 EssilorLuxottica shares for each Luxottica share, or alternatively chose to elect cash consideration of €51.644 per share. The offer will commence on December 12, 2018 and will end on January 18, 2019. BNP Paribas acted as financial advisor to EssilorLuxottica Société anonyme. EssilorLuxottica Société anonyme (ENXTPA:EL) completed the acquisition of 6.78% stake in Luxottica Group S.p.A. (BIT:LUX) on January 18, 2019. As of January 22, 2019, EssilorLuxottica holds 97.51% stake in Luxottica Group and would proceed with the process of squeeze out that should end between end of February and beginning of March. The squeeze out procedure for the remaining shares completed on March 5, 2019. KPMG Advisory S.p.A. acted as financial advisor to EssilorLuxottica in the merger of Luxottica Group.