Kingfisher PLC - Kingfisher plc Completes Sale of Castorama Russia
Kingfisher plc completes sale of Castorama Russia to Maxidom
Kingfisher plc ('Company' or 'Kingfisher') today announces that it has completed the sale of Castorama Russia to Maxidom, a leading home improvement company in
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.
"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."
(1) Before cash and debt disposed with the business
(2) Based on RUB/GBP foreign exchange rate of 101.6
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About Kingfisher plc
Kingfisher plc is an international home improvement company with approximately 1,350 stores, and operations in eight countries across
OOO Maxidom ('Maxidom') is the first Russian domestic DIY store chain. It entered the market in 1997. Our main work principles are to provide a continuously expanding assortment of goods, while offering Russian and imported products of the best quality, as well as to maintain consumer-oriented prices and great service.
In 23 years, we have built 15 stores in 7 regions of
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