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Darty plc Announces Proposed Disposal Of Operations Of Darty Italy

Wednesday, 21 Nov 2012 02:00am EST 

Darty plc announced that through its subsidiary Kesa Sourcing Limited (the Company) it has entered into an agreement with Italian electricals retailer DPS Group s.r.l. (DPS), to contribute its 20 stores and staff together with a cash contribution of EUR3 million for a 15% share of DPS's share capital. The Company will retain responsibility for closure of the Darty Italy head office. The cost of closure along with certain working capital adjustments on completion is expected to cost around EUR11 million. The agreement is subject to approval of the Group's Ordinary Shareholders, plus union consents and is expected to complete at the end of February 2013. 

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-2.0 -2.43%
7:58am EDT