GENERAL MERCHANDISE NEWS
Kingfisher to float electricals business
1 September, 2002 | by Retail Bulletin
April 2003 debut on French market
September 1 2002
Kingfisher plans to float its electricals retailing businesses on the Paris stock market next April.
The demerger of the businesses, which include Comet in the UK and Darty in France, will allow the retail group to focus on the DIY market in Europe through its B&Q and Castorama brands.
Kingfisher spokesman Jonathan Miller told the Reuters news agency: “We fully expect to float the Kingfisher electricals business on the Paris stock market next Spring.”
Kingfisher chief executive Geoff Mulcahy told French newspaper Le Figaro: “Our clear strategic priority is to build a group which is a specialist in the European DIY market.”
