Dixons agrees Pixmania, Turkish disposals
‘Irrevocable’ offer for loss-making ecommerce business
Dixons Retail, which owns the Curry’s and PC World brands, said it had agreed to sell its ecommerce operation Pixmania. Photograph: Simon Dawson/Bloomberg
Dixons Retail, Europe’s second-biggest electrical goods retailer, said today it had agreed to dispose of its loss-making Pixmania ecommerce business and its Turkish operation.
Dixons said it had received an irrevocable offer from Mutares AG, a German listed industrial holding company, to purchase Pixmania, which operates in France and the Czech Republic.
The deal will involve Dixons providing €69 million of cash to Mutares.
Dixons also said it had agreed to sell its ElectroWorld operations in Turkey to local firm Bimeks for about £2 million.
The group added that underlying first quarter sales rose 2 per cent, in line with analysts’ expectations. (Reuters)