Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

RELATED NEWS
Trade RGS now with 

Regis Corp. (RGS: Quote) 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.

Click here to receive FREE breaking news email alerts for Regis Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Social networking giant Facebook, Inc. said Wednesday after the markets closed that its second quarter profit more than doubled from last year, as revenue surged 61% amid strong growth in mobile advertising. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. With traders reacting to the latest batch of earnings news, stocks fluctuated over the course of the trading day on Wednesday before eventually ending the session mixed. The Dow ended the day in the red, but the broader Nasdaq and S&P 500 managed to close in positive territory. House Republicans revealed a series of recommendations to address the crisis along the U.S.-Mexico border on Wednesday, although party differences may prevent a final bill from being passed before the August recess.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.