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Carphone Warehouse Group PLC Announces Proposed Acquisition of Best BUY Co Inc's 50% Stake in CPW Europe


Tuesday, 30 Apr 2013 02:01am EDT 

Carphone Warehouse Group PLC announced that it has conditionally agreed to acquire the 50% of New BBED Limited (CPW Europe) that the Company does not already own from Best BUY Co Inc (Best Buy) for a net consideration of GBP 471 million (the Proposed Acquisition). GBP 341 million of the net consideration will be paid in cash on completion of the Proposed Acquisition with the balance satisfied by the issue to Best Buy on completion of a GBP 80 million stake in Carphone Warehouse and GBP 50 million of deferred cash consideration payable in two equal instalments on the first and second anniversaries of completion. 

Company Quote

39.395
0.505 +1.30%
2:09pm EST