HAL in Talks to Sell Majority Grandvision Stake to EssilorLuxottica
July 17 2019 - 1:05PM
Dow Jones News
By Oliver Griffin
HAL Trust (HAL.AE) said Wednesday that it is in talks to sell
its majority stake in Dutch optical retailer Grandvision N.V.
(GVNV.AE) to French eyewear giant EssilorLuxottica S.A.
(EL.FR).
HAL said it could confirm that talks to sell its 76.72% stake in
the company were going ahead but added that there was no guarantee
that such discussions would lead to an agreement.
Completion of a sale will be subject to customary conditions,
including approval by regulatory authorities.
According to FactSet, Grandvision is worth around 5.83 billion
euros ($6.55 billion), after shares closed up 8.8% at EUR22.90 a
share on Wednesday.
Earlier in the session Grandvision shares rose as much as
11%.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
July 17, 2019 12:50 ET (16:50 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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