HAL in Talks With EssilorLuxottica About Possible Sale of GrandVision

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SCHIPHOL, The Netherlands—HAL Holding (Euronext: HAL) confirmed today that they are having discussions to sell HAL’s 76.72 percent ownership interest in GrandVision (Euronext: GVNV) to EssilorLuxottica (Euronext: EL). “No agreement has yet been reached and no assurance can be provided that these discussions will lead to such an agreement,” HAL said in a statement posted on its website. The price per share being discussed is approximately €28.00, according to a statement on GrandVision’s website.

GrandVision is a global optical retailer that operates over 7,200 stores and has more 37,000 employees. The company, based in Schiphol, The Netherlands, offers a wide range of services as well as prescription glasses, contact lenses and contact lens care products, and sunglasses both plain and with prescription lenses. These products are offered through leading optical brands or banners which operate in more than 40 countries across Europe, the Americas, the Middle East and Asia.

Completion of a sale of HAL’s ownership interest in GrandVision would be subject to customary conditions including approval from relevant regulatory authorities in various jurisdictions, which may take between 12 and 24 months, GrandVision said in a statement. Following completion of the transaction between HAL and EssilorLuxottica, EssilorLuxottica will make a mandatory public offer for all shares in GrandVision.

Well-known retail banners of the group include Apollo-Optik in Germany, Générale d'Optique and GrandOptical in France, Pearle in the Netherlands, Belgium and Austria, Eye Wish Opticiens in the Netherlands, and Vision Express in the United Kingdom, Ireland, Poland, Hungary, the Middle East and India along with For Eye Optical in the U.S.

A spokesperson for GrandVision NV told VMail that talks pertain only to HAL's holdings in GrandVision NV.