GN Store Nord to Sell Hearing Unit to Amplifon for $2.6B
GN Store Nord agreed to sell its hearing business to Italy's Amplifon for 17 billion Danish crowns. The deal is valued at approximately 2.6 billion dollars.
GN STORE NORD A/S, a leading hearing aid manufacturer based in Denmark, has agreed to sell its hearing business to Amplifon S.p.A. for 17 billion Danish crowns, or approximately $2.6 billion. The transaction is structured on a cash-free and debt-free basis. According to the announcement made on Monday, the deal utilizes an exchange rate of 6.5432 Danish crowns per U.S. dollar. The acquiring firm, which operates out of Italy, will integrate the hearing business into its global retail network. This sale represents a significant move for the Danish manufacturer as it refines its corporate focus.
