July 17, 2019 -- EssilorLuxottica has confirmed it is having discussions to purchase 76.72% ownership interest in GrandVision N.V. of HAL Holding N.V.
At this time, no agreement has been reached and no assurance can be provided that the discussions will lead to such an agreement. Furthermore, completion of the transaction would be subject to customary conditions precedent including approval by regulatory authorities in various jurisdictions.
The purchase price per share indicatively discussed among the parties to date is 28 euros per share. The terms of the potential transaction, including price, is subject to continued evaluation and discussion during the coming weeks and further review by the parties’ boards of directors.
Based in the Netherlands, GrandVision N.V. operates 7,200 stores in more than 40 countries—mostly in Europe and the Americas. It operates about 40 retail brand banners. In the U.S., it's best-known brand is For Eyes.
In related retail acquisition news, VSP Global announced recently that it has acquired Visionworks, the U.S.'s sixth-largest optical retail chain. Click here to read about that.
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