GENERAL MERCHANDISE NEWS
Kingfisher to mop up final Castorama shares
22 April, 2003 | by Retail Bulletin
€67 offer to be followed by delisting
April 22 2003
Kingfisher has made a final €67-a-share offer for the small parcel of shares in French DIY retailer Castorama is does not already own.
With just 0.34 per cent of Castorama shares unaccounted for after Kingfisher’s successful battle for full control of the business last year, the final offer matches he price then paid by Kingfisher.
The total €41m cost of the purchase will be met from existing banking facilities, said the company.
The offer will be made next month. Under French market rules, it will be followed by a compulsory acquisition offer and a delisting of Castorama shares in Paris.
