Hal takeover bid for GrandVision takes off

Declared admissible by the French financial market authorities, the takeover bid put forward by Multibrands, which is indirectly controlled by Hal Holding, for GrandVision shares at a unit price of 25.50 euros, was launched February 25 and will close at day-end March 30.

The news was reported in a communication about the takeover published February 24 by GrandVision.

Hal Holding holds 63% of the capital stock in Multibrands and shareholders Abittan, Likierman, Gwyn, Vannier and Sélignan hold the remaining 37%. At February 20, 2004, Multibrands, Hal Holding and Abittan, Likierman, Gwyn, Vannier and Sélignan jointly held 14,457,523 shares in GrandVision, representing 61.66% of the capital stock and 67.60% of the voting rights in the company.