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France: Kingfisher deal stalled on competition proposals

By  |  March 25, 2015

French DIY stores chain Mr Bricolage said on Wednesday that hurdles plaguing its takeover by Kingfisher hinged mostly on the number of stores its larger British rival had offered to sell to win clearance from anti-trust authorities.

“The Board of Directors of Mr Bricolage believes that had the commitments proposed by Kingfisher been implemented, it would have led a large number of stores under the Mr Bricolage and Les Briconautes brands to exit France definitively and, furthermore, to the termination of Mr. Bricolage grouprelationships with certain affiliated non-brand stores, beyond what had been anticipated by the parties,” the statement said.

Mr Bricolage said it would communicate about any developments regarding the merger plan as soon as possible.

 

Full Content: Reuters

 

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