Dixons Retail PLC Completion of disposal of Pixmania (6406W)

TIDMDXNS

RNS Number : 6406W

Dixons Retail PLC

31 December 2013

Dixons Retail

Completion of disposal of Pixmania

Dixons Retail plc, Europe's leading specialist multi-channel electrical retailing and services companies, today announces that it has completed the disposal of PIXmania S.A.S to mutares A.G., a German listed industrial holding company.

PIXmania is a European pure-play e-tailer, based in France. The transaction, first announced in September, saw Dixons provide approximately EUR69 million (cGBP58.1m) of cash, which has been ring-fenced to support mutares' robust business plan to build on PIXmania's pure ecommerce operations and for the ongoing funding of the business.

Commenting on the disposal, Sebastian James, Group Chief Executive, said:

"I am delighted to have successfully completed this deal and look forward to watching PIXmania thrive under mutares' entrepreneurial vigour. For Dixons, this is the last of three important strategic transactions, substantially streamlining our Group. By focusing on our knitting, in markets where we have leading multi-channel operations, we will be able to drive even better value for our customers."

For further information:

   David Lloyd-Seed,  IR, PR & Corporate Affairs Director, Dixons Retail               01727 205065 

Hannah Collyer, Head of Media Relations, Dixons Retail 01727 203041

Nick Cosgrove, Brunswick 020 74045959

Information about Dixons Retail

Dixons Retail is Europe's leading specialist electrical multi-channel retailing and services company, employing 32,000 people in 12 countries. More than 100 million customers shop with us every year, online and in our c.955 stores.

Dixons Retail has built a successful and sustainable multichannel approach to electrical retailing. Focused on the customer, the business offers a comprehensive range of after sales services, including support from Knowhow, the UK's leading provider of technology solutions, support, expertise and repairs. Business-to-business services are provided through PC World in the UK. As market leader in the Nordics, the business enjoys a superb reputation for first class customer service, a cost effective supply chain, strong retail sites across four countries and great supply relationships.

Dixons Retails' brands include Currys, PC World and Knowhow in the UK and Ireland. Customers shop with Elkjøp, El Giganten, Gigantti, Lefdal and Knowhow in the Nordic countries, Kotsovolos in Greece, ElectroWorld in central Europe and Dixons Travel in a number of airports across Europe. Aiming to deliver an unbeatable combination of Value, Choice and Service, the company is proud to stand shoulder-to-shoulder with millions of customers whilst delivering a truly multichannel shopping experience.

For more information about Dixons Retail plc, please visit www.Dixonsretail.com

Follow us on Twitter: @DixonsRetail

This information is provided by RNS

The company news service from the London Stock Exchange

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