By Oliver Griffin

HAL Trust (HAL.AE) said Wednesday that it is in talks to sell its majority stake in Dutch optical retailer Grandvision N.V. (GVNV.AE) to French eyewear giant EssilorLuxottica S.A. (EL.FR).

HAL said it could confirm that talks to sell its 76.72% stake in the company were going ahead but added that there was no guarantee that such discussions would lead to an agreement.

Completion of a sale will be subject to customary conditions, including approval by regulatory authorities.

According to FactSet, Grandvision is worth around 5.83 billion euros ($6.55 billion), after shares closed up 8.8% at EUR22.90 a share on Wednesday.

Earlier in the session Grandvision shares rose as much as 11%.

Write to Oliver Griffin at oliver.griffin@dowjones.com; @OliGGriffin

(END) Dow Jones Newswires

July 17, 2019 12:50 ET (16:50 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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