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Regis (RGS) to Sell Hair Club for Men/Women Unit in $163.5M Deal

July 16, 2012 6:23 AM EDT Send to a Friend
Regis Corporation (NYSE: RGS), has entered into a definitive agreement with Aderans Co., Ltd. to sell Hair Club for Men and Women (Hair Club), its subsidiary offering proven hair loss products and services. Under the terms of the agreement, Regis will receive $163.5 million in cash. The transaction is expected to close in the third or fourth quarter of calendar 2012.

BofA Merrill Lynch is acting as exclusive financial advisor and O’Melveny & Myers LLP is acting as legal advisor to Regis in connection with the transaction. The transaction is subject to customary closing conditions. There are no financing conditions to closing the transaction. Additionally, in the period of closing the sale transaction, Regis expects to record a non-operational, after-tax gain of $8 million to $12 million.




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