Regis Announces Agreement to Sell Ownership in Provalliance for EUR 80 Million in Cash
Regis Corporation (NYSE: RGS) today announced that it has entered into an agreement with members of the Provost family to sell Regis' minority ownership interest in Provalliance, the largest hair salon company in Europe. Under the terms of the agreement, Regis will receive EUR 80 million 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.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.