HAL Hal Trust

--Grandvision confirms approach from majority owner and EssilorLuxottica

--Envisaged deal values Grandvision at EUR28 a share

--Grandvision shares closed up 8.8% on Wednesday

 
   By Oliver Griffin 
 

Grandvision N.V. (GVNV.AE) on Wednesday confirmed that it has been approached about the possible sale of HAL Holding's 76.72% stake in the company to French eyewear giant EssilorLuxottica S.A. (EL.FR).

The Dutch optical retailer was responding to a statement from the investment company, a part of HAL Trust (HAL.AE), which said it was in talks to sell its stake to EssilorLuxottica.

Grandvision said it was uncertain if a deal would be reached but added that the current envisaged price valued it at EUR28 a share.

According to FactSet, Grandvision is valued at around 5.83 billion euros ($6.55 billion), after shares closed up 8.8% at EUR22.90 a share on Wednesday.

Completion of a sale will be subject to customary conditions, including approval by regulatory authorities.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

July 17, 2019 13:16 ET (17:16 GMT)

Hal (EU:HAL)
Historical Stock Chart
From Oct 2024 to Nov 2024

Hal (EU:HAL)
Historical Stock Chart
From Nov 2023 to Nov 2024