Dixons Retail Plc Announces Agreement With Mutares A.G. For Sale Of Pixmania Signed
Dixons Retail Plc announced that it has signed the agreement for the sale of PIXmania S.A.S to Mutares A.G, a German listed industrial holding company. As part of its purchase of PIXmania, mutares has developed a robust plan to build on PIXmania's pure play e-commerce operations as well as to further develop its software platform. In order to support this plan, and to provide ongoing funding for PIXmania, Dixons Retail will provide approximately GBP59million (EUR69million) of ring-fenced capital. Completion of the transaction is expected to take place at the end of December 2013.
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