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Movado Group to sell 95% of EBEL for $66.5M, retain 5% stake
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Movado Group entered into an agreement to sell a 95% interest in EBEL for approximately $66.5 million while retaining a 5% stake. Key Highlights: Agreement dated Oct 5, 2026 to sell 95% of EBEL to a buyer group led by Montres Journe with Chanel and Pierre Jacques. Consideration expected to total approximately $66.5 million, subject to customary closing adjustments. Transaction expected to close in fiscal Q4 2026, subject to closing conditions and a pre-closing…