Kingfisher to take control of BUT chain

Article Abstract:

Kingfisher PLC, a UK retailer, exercised an option to take majority control of BUT SA, a French furniture and household-appliance chain, for 103 million pounds sterling. Kingfisher, which owns a 26% stake at BUT, will pay BUT founder Andre Venturini and director Georges Yvrai 300 francs a share for another 36% of the chain's equity. Kingfisher will also extend its offer to minority shareholders in its bid to to gain control of all of BUT's capital. Kingfisher will integrate BUT into its electrical-goods division, Kingfisher Electrical Retailing. The move will boost Kingfisher's share in French electrical-appliance market to 18.

Comment:

Exercises option to take majority control of BUT SA, a French furniture & household-appliance chain, for 103 mil pounds sterling

Acquisitions & mergers, Furniture Stores, Retail Stores, But S.A.

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Kvaerner finds buyers for U.S. unit, expects two other sales by year end

Article Abstract:

Kvaerner PLC, an Anglo-Norwegian engineering company, found two buyers for Trafalgar House Property Inc., its home development business in the US, for around $150 million. The divestiture, which is the first of three planned sale by the end of 1998, is intended to generate money to reduce the company's debt and redirect its focus to construction, oil and gas and process engineering. The majority of Trafalgar will be obtained by an unidentified US construction firm, while the rest is being acquired by a consortium headed by Gregory Cox. Later, Kvaerner plans to sell a plastics machinery operation and ship equipment unit.

Comment:

Finds 2 buyers for Trafalgar House Property Inc, its home development business in the US, for around $150 mil

United States, Land Subdivision and Land Development, Housing Developers, Trafalgar House Property Inc., Kvaerner Rosenberg A/S

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Kingfisher pursues Castorama alliance

Article Abstract:

Kingfisher PLC, a retail group based in the UK, is seeking to have some form of alliance with Templemars, France-based Castorama Dubois SA, which is the biggest home-improvement chain in Europe. Kingfisher refuted news reports that the company wants to acquire Castorama for two billion pounds sterling, or $3.27 billion. Sir Geoffrey Mulcahy, who is the CEO of Kingfisher, is eager to become a distinguished pan-European retailer in the company's two core fields, home improvement and electrical products. Castorama have home-improvement operations in Poland, Canada, Italy, Brazil, Belgium and Germany.

Comment:

May have some form of alliance with Kingfisher PLC of the UK

Building Materials, Retail, Building Material and Supplies Dealers, Alliances, partnerships, Castorama Dubois SA

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