Kingfisher Completes Sale Of Castorama Russia

Kingfisher plc today announces that it has completed the sale of Castorama Russia to Maxidom, a leading home improvement company in Russia, for a total consideration of RUB c.7.4bn (c.£73m).

The total consideration of RUB c.7.4bn will be satisfied as follows:

• 80% paid at the closing of the transaction
• Remaining 20% to be paid in equal instalments over two years
• The sale has been granted all regulatory approvals and completed on 30 September.

Thierry Garnier, CEO of Kingfisher, said:

“I am pleased to announce the completion of the sale of Castorama Russia to Maxidom. I would like to thank our Castorama Russia colleagues for their contribution to Kingfisher and wish them well for the future.”

Source : Kingfisher PLC

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