skip to main content
Find Insight DIY on
* * *

International DIY News

Kingfisher completes sale of controlling stake in B&Q China

B&Q China 2

On 22 December 2014 Kingfisher plc announced a binding agreement to sell a controlling 70% stake in its B&Q China business to Wumei Holdings Group for a total cash consideration of £140 million. This agreement followed Kingfisher's previous announcement of its plans to look for a strategic partner to help develop its B&Q business in China.

The transaction was conditional on MOFCOM (Chinese Ministry of Commerce) approval. Following recent receipt of this approval and the cash consideration, the transaction has now completed.

Kingfisher will account for its remaining 30% interest as an investment. Adjusted measures for 2015/16 and 2014/15 will exclude B&Q China's operating results.

Source : Kingfisher Press Release

30 April 2015

Related News

view more International DIY News

Insight DIY is the only source of market information that I need and they always have the latest news before anyone else.

Neil Anderton - Sales Director, British Ceramic Tile

Don't miss out on all the latest, breaking news from the DIY industry