Cole National sells Pearle Europe shares

February 15, 2005

Milan, Italy—After acquiring Cole National Corp. in October, Luxottica Group SpA says its new subsidiary has sold all of its shares in Pearle Europe BV to HAL Holding NV for about $191 million.

Milan, Italy-After acquiring Cole National Corp. in October, Luxottica Group SpA says its new subsidiary has sold all of its shares in Pearle Europe BV to HAL Holding NV for about $191 million.

Luxottica officials said the sale was required by the Articles of Association of Pearle Europe in light of the acquisition. HAL owned about 19% of Cole National; the deal allows the Dutch investment company to increase its ownership of Pearle Europe to about 99%.

Pearle Europe operates more than 1,000 outlets in about 11 European countries.