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Safilo Group sells to HAL its Mexican retail chains

23/12/10

SAFILO GROUP SELLS TO HAL ITS MEXICAN RETAIL CHAINS

 

Padua, December 23, 2010, h.5.45pm –  Safilo Group S.p.A. announces the sale to HAL of its 60% stake in Tide Ti S.A., the company which manages the retail chains Sunglass Island and Island Optical in Mexico (57 stores).

With the successful completion of this transaction, Safilo concludes the expected divestments of the non-core retail activities, according to the terms and conditions set forth in the restructuring agreement signed in October 2009.

Tide Ti S.A. reported 2009 net sales of MXN 322.4 million (approximately Euro 20 million).

In accordance with the original plan, the Group retains its sunglass chain Solstice in the USA (161 stores).


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