EssilorLuxottica can raise Nikon stake to 20%

GaryPageau ,
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French-Italian eyewear maker EssilorLuxottica has secured permission to raise its stake in Nikon Inc. to as much as 20% under Japan’s Foreign Exchange and Foreign Trade Act, Nikon said in a press release. The maker of Ray-Ban sunglasses has also raised its holding in Nikon to 10.8% from 9.6% to become the largest shareholder. As previously announced, EssilorLuxottica has been boosting its stake in the Japanese optics maker for over a year. The two companies have worked together for 25 years.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.