logo
Share SHARE
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
Alphabet Inc., (GOOG, GOOGL), the parent company of Google, Thursday reported an increase in profit for the second quarter, driven mostly by increase in search and advertising revenues. Earnings and revenues for the quarter trumped Wall Street expectations, sending shares of the company up by 3 percent... Apple Inc. (AAPL) has announced that it recently sold its 1 billionth iPhone, about nine years after the first iPhone was launched. "iPhone has become one of the most important, world-changing and successful products in history. It's become more than a constant companion. iPhone is truly an essential... Fiat Chrysler Automobiles's US will focus on Jeep SUVs and Ram Pickups and plans to stop producing small passenger cars from early next year. The plan to stop Dart and Chrysler 200 production will be effective by first quarter of 2017. The new plans are expected to increase profit margins, as SUVs...
comments powered by Disqus
Follow RTT