4th Jul 2006 07:00
DSG International PLC04 July 2006 4 July, 2006 DSG INTERNATIONAL PLC: COMPLETION OF ACQUISITION OF CONTROLLING INTEREST INFOTOVISTA GROUP Following approval from the European competition authorities, DSG internationalplc, Europe's leading specialist electrical retailer, today confirms completionof the acquisition of a controlling 77% interest in Fotovista Group, for a totalcash consideration of €261 million (approximately £179 million). Fotovista willbe consolidated into DSG international's accounts from completion and isexpected to be earnings enhancing in the first year. John Clare, Group chief executive, DSG international plc, said: "I am delightedto announce the completion of the Fotovista acquisition. This transactionextends DSGi's reach to 27 countries, affirming our international retailingpedigree, and brings the rapidly growing Pixmania business into the Group. Ourcombined businesses will offer more products, faster deliveries andmarket-beating prices and services to customers across all major Europeaneconomies. Furthermore, this acquisition accelerates the Group's ambition to bethe market leading e-tailer of electricals throughout Europe." Headquartered in Paris, Fotovista is the parent company of Pixmania, a leadingEuropean e-tailer of digital photographic and consumer electronic products.Pixmania, the core e-commerce operation of Fotovista, is the only pan-Europeane-tailer of consumer electronic products and trades in 27 European countriesthrough bespoke transactional websites. Pixmania is already a market leadinge-tailer of consumer electronic goods in France, Italy, Spain and Portugal, andthe business is growing strongly in all countries in which it has a presence. - Ends - More information: Hamish Thompson, Director of media relations 01727 203 195 / 07702 684290 David Lloyd-Seed, Group director of investor relations 01727 205 065 About DSG international plc DSG international plc is Europe's leading specialist electrical retailing group.We trade through 1,450 stores and online stores, spanning 14 countries andemploying 42,000 people. More than 100 million customers shop in-store andonline with us every year. Our retail and e-tail brands include PC World, Currys and Dixons.co.uk in the UKand Ireland, The Link in the UK, Elkjop in the Nordic countries, UniEuro inItaly, Kotsovolos in Greece, Electro World in central Europe and PC City inFrance, Spain, Italy and Sweden. We operate a multi-channel and pure playe-commerce approach to electrical retailing and offer customers a comprehensiverange of after sales services. We also run a multi-brand business-to-businessoperation in the UK. For more information about DSG international plc, please visit www.dsgiplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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