Luxottica closes transaction

Milan, Italy Luxottica Group S.p.A. Thursday announced that it is closing on its acquisition of a 40% participation in Multiopticas Internacional S.L. previously announced on May 27.

This transaction, which is worth approximately 40 million euros, marks Luxottica's entry into the retail business in South America, a region with excellent growth potential, the company said.

The group already has a solid presence through its wholesale network.