FONT-SIZE Plus   Neg

Regis To Dispose Ownership In Provalliance For EUR 80 Mln In Cash - Quick Facts

Regis Corp. (RGS) said it agreed with members of the Provost family to sell its minority ownership interest in Provalliance, the largest hair salon company in Europe.

As per the terms of the agreement, Regis will receive 80 million euros in cash. The transaction is expected to close prior to September 30, 2012 and is subject to the Provost family securing financing for the purchase price.

In connection with the agreement, Regis concluded that an after-tax, non-cash net impairment charge, ranging between $15 million and $18 million, related to its investment in Provalliance will be recorded in its third fiscal quarter of 2012. Prior to the impairment charge, Regis' net investment in Provalliance was around 92 million euros.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Retailers could see record web traffic this year as more consumers then ever before plan to shop online, according to Deloitte's 31st annual holiday survey of consumer spending intentions and trends. The survey found that holiday shoppers this year plan to spend just as much as online as they spend in brick and mortar stores. Oil giant Chevron Corp. on Friday reported a 37 percent decline in profit for the third quarter from last year, reflecting lower oil prices and weak refining margins. However, both revenue and earnings per share for the quarter beat analysts' estimates. In addition, the company raised its quarterly dividend. Mastercard Inc. (MA) reported a profit for the third quarter of 2016 that increased about 21 percent from the year-ago period, while it was up 15% excluding a special item related to the termination of the U.S. employee pension plan taken in last year's third quarter. Both earnings per share and revenue for the quarter beat analysts' expectations.
comments powered by Disqus
Follow RTT