Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Friday, 1 September 2017

GrandVision to increase shareholding in Visilab S.A.

GrandVision nv    

Published: 17:45 CEST 01-09-2017 /GlobeNewswire /Source: GrandVision nv / : GVNV /ISIN: NL0010937066

GrandVision to increase shareholding in Visilab S.A.

Schiphol, the Netherlands - 1 September 2017. GrandVision NV has entered into an agreement to increase its shareholding in Visilab S.A., from 30% to 60%. GrandVision has been a shareholder in the company since 2007.

Visilab, a leading optical retailer in Switzerland, was founded in 1988 and operates 98 stores across the country. Visilab reported 2016 net revenues of 173 million CHF and has more than 900 employees.

The transaction, which is subject to customary closing conditions, is expected to be completed in the fourth quarter of 2017. Visilab will be consolidated in GrandVision's financial statements and reported in the "Other Europe" segment.

As part of this agreement, the parties have agreed that GrandVision's shareholding will increase, in twosteps, to 79% in 2019.

 



GrandVision Visilab press release



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: GrandVision nv, WTC Schiphol Airport, G5 Schiphol Boulevard 117, Schiphol 1118 BG, The Netherlands
If you would like to unsubscribe and stop receiving these e-mails click here.