Debt
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Kingfisher wants to buy French rival, Mr Bricolage
Kingfisher, the DIY chain with operations in the UK and France, is in talks to acquire Mr Bricolage, a French rival, for €275m, including debt. Under the terms of the proposed transaction, Kingfisher would acquire 41.9% of the share capital of Mr Bricolage from ANPF (which is held by franchisees) and 26.2% from the Tabur Family at an agreed price per share of €15. Subsequently, a mandatory offer to acquire the shares held by the minority shareholders at the same price, in accordance with applicable law, would be filed. At this level and including the level of net debt as at 31 December 2013 the overall enterprise value is around €275 million. As part of the transaction, Mr Bricolage’s existing franchisee and affiliate network would be maintained and its members offered improved commercial terms. The whole process is likely to take until the end of Kingfisher’s 2014/15... Continue reading
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April 7, 2014
Kingfisher wants to buy French rival, Mr Bricolage
Kingfisher, the DIY chain with operations in the UK and France, is in talks to acquire Mr Bricolage, a French rival, for €275m, including debt. Under the terms of the proposed transaction, Kingfisher would acquire 41.9% of the share capital of Mr Bricolage from ANPF (which is held by franchisees) and 26.2% from the Tabur Family at an agreed price per share of €15. Subsequently, a mandatory offer to acquire the shares held by the minority shareholders at the same price, in accordance with applicable law, would be filed. At this level and including the level of net debt as at 31 December 2013 the overall enterprise value is around €275 million. As part of the transaction, Mr Bricolage’s existing franchisee and affiliate network would be maintained and its members offered improved commercial terms. The whole process is likely to take until the end of Kingfisher’s 2014/15... Continue reading