Kingfisher deal stalled on competition proposals-Mr Bricolage

Mr Bricolage SA

25/03/2015 16:34

PARIS, March 25 (Reuters) - French DIY stores chain Mr 
Bricolage  MBRI.PA  said on Wednesday  that hurdles plaguing its 
takeover by Kingfisher  KGF.L  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 group 
relationships 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. 
     Until then Mr Bricolage shares remain suspended. 
 
 (Reporting by Andrew Callus; editing by Michel Rose) 
 ((andrew.callus.thomsonreuters.com@reuters.com; +33)(0)(1 49 49 
51 30 ; Reuters Messaging: 
andrew.callus.thomsonreuters.com@reuters.net)) 
 
Keywords: MR BRICOLAGE KINGFISHER/