GN completes divestment of Portuguese business and collects DKK 500m
On Thursday, GN has completed its announced divestment of Belaudição, which owns several hearing aid stores in Portugal, with proceeds of DKK 500m (USD 71.73m), the company announces via press release.
Belaudição has been sold to the private equity fund MCH Private Equity.
GN announced on June 28 that the private equity fund had received approval from local competition authorities for the divestment and obtained the necessary financing.
The proceeds from the divestment will be used to fulfill GN’s capital plan which was announced in the spring of 2023.
”We are very pleased to finalize the divestment of Belaudição, which is an important step in the execution of our capital plan, while ensuring that Belaudição has strong support to continue its successful growth journey with GN Hearing as its main supplier,” says Søren Jelert, CEO of GN Group, in the announcement.
(Translated by DeepL with additional editing by Christian Radich Hoffman)
