Copenhagen, 2012-07-23 07:00 CEST (GLOBE NEWSWIRE) -- Amplifon S.p.A and GN ReSound have today entered into an agreement where GN ReSound divests its 38 Indian retail stores to Amplifon. As part of the agreement GN ReSound will continue to deliver hearing solutions to Amplifon in India.
CEO of the Amplifon Group, Franco Moscetti, says: “We are pleased to expand our strategic partnership with GN ReSound by acquiring their Indian based retail activities. Once again the Amplifon Group has proven its ability to move strategically to, take advantage of an opportunity which will bring important medium-long term benefits inside a region destined to drive world growth in the future”.
CEO of GN ReSound, Lars Viksmoen says: “The strengthening of our strategic partnership with Amplifon by divesting our retail activities in India to Amplifon is yet another example of GN ReSound leveraging on our strategy, of not owning and operating retail activities in APAC in the long run and thereby competing with our key customers.”
The 2012 results for GN ReSound will not be materially impacted by the divestment and the full year revenue and EBITA guidance is unchanged.
For further information, please contact:
Mikkel Danvold
VP, IR & Communications
GN Store Nord A/S
Tel: +45 45 75 02 71
