REG - Kingfisher PLC - Mr Bricolage Final Update <Origin Href="QuoteRef">KGF.L</Origin>

KingfisherAnnouncement

30/03/2015 08:10

RNS Number : 8078I
Kingfisher PLC
30 March 2015
30 March 2015
Kingfisher plc announces Mr Bricolage acquisition not to proceed 
On 23 July 2014 Kingfisher entered into a bindingagreement with the principal shareholders of Mr Bricolage to acquire their shareholdings subject to satisfactoryanti-trust clearance. This agreement made provision that it would lapse if the anti-trust clearance was not obtained by 31March 2015 although an extension could be agreed by all parties. Kingfisher notes the statement of the ANPF (an organisation controlled by MrBricolage's franchisees holding 41.9% of the share capital of MrBricolage) dated 27March2015 which cites their decision to refuse any extension of the 31March2015 deadline. 
Therefore, notwithstanding Kingfisher's efforts to pursue the completion of the transaction, and in light of the positions expressed to date by the ANPF and MrBricolage, the anti-trust clearance will not be obtained by 31 March 2015 and therefore the July 2014 agreement will lapse on that date. 
Consequently the transaction will not proceed. Kingfisher is considering all of its options.
Enquiries
Investors +(44) 20 7644 1032
Media +(44) 20 7644 1030
French media +(33) 6 09 24 42 42
 

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