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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Hal Trust | EU:HAL | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 118.00 | 117.60 | 118.80 | 118.80 | 117.80 | 118.40 | 11,475 | 16:40:00 |
From Jan 2020 to Jan 2025
--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)
Copyright (c) 2019 Dow Jones & Company, Inc.
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