British DIY chain Kingfisher eyes French peer Mr Bricolage
(MENAFN- AFP) Kingfisher, Europe's biggest home-improvements retailer, announced on Thursday that it was in exclusive talks to buy Mr Bricolage to build upon its already strong presence in France.Kingfisher, which owns French home-improvement chains Castorama and Brico Depot as well as B&Q in Britain, said terms of a proposed deal valued Mr Bricolage at about 275 million euros ($378 million), including debt, A statement issued by the British group said Kingfisher had "entered into exclusive negotiations with the principal shareholders of Mr Bricolage... to acquire their shareholding". Kingfisher chief executive Ian Cheshire said the purchase "would add a third, complementary strong business alongside Kingfisher's existing two successful brands in France".
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