8th Feb 2008 16:18
Kesa Electricals plc08 February 2008 8 February 2008 Class 1 Circular for Proposed Sale of BUT to a consortium composed of ColonyCapital, Goldman Sachs and Merchant Equity Partners for €550 million Further to the announcements made on 28 December 2007 and 30 January 2008regarding the proposed sale by Kesa Electricals plc ("Kesa" or the "Company") ofBUT (Kesa's furniture and electricals business) to Decomeubles Partners SAS (acompany backed by a consortium composed of Colony Capital, Goldman Sachs andMerchant Equity Partners), the Company confirms a circular (the "Circular")containing a notice convening an Extraordinary General Meeting (the "EGM") hastoday been posted to shareholders. The EGM will be held at 11.00am on Tuesday, 26 February 2008 at the Holiday Inn,Coram Street, London WC1N 1HT. The Circular will be available for inspection on the investor section of theCompany's website: www.kesaelectricals.com Two copies of the Circular have also been submitted to the UK Listing Authority("UKLA") and will shortly be available for inspection by the public duringnormal business hours on any weekday (public holidays excepted) at the UKLA'sDocument Viewing Facility, situated at: Financial Services Authority25 The North ColonnadeCanary WharfLondon E14 5HS Ends For further information please contact: Analysts Kesa Electricals plcSimon Ward +44 (0) 20 7269 1400 Media Kesa Electricals plcAnnabel Donaldson UK +44 (0) 20 7269 1400 FinsburyAlex Pettifer UK +44 (0) 20 7251 3801 Euro RSCGBenjamin Perret France +33 (0) 1 58 47 95 39 Basic Facts about KESA Electricals plc and BUT Kesa Electricals plc is a holding company with subsidiaries operating through796 stores in twelve European countries. It is Europe's third largest electricalretailing group by sales. The Kesa group comprises four operating divisions: Darty (France), BUT (France),Comet (UK) and Other businesses which consists of Vanden Borre (Belgium), BCC(Holland), Datart (Czech Republic and Slovakia), Darty (Italy), Darty(Switzerland), Menaje Del Hogar (Spain and Portugal) and Darty (Turkey). Kesa's businesses share a trading philosophy based on three principles: BestPrice, Best Choice and Best Service. This distinctive customer proposition isdesigned to address the needs of a broad customer base, to create strongcustomer brand loyalty and to deliver a business model that is both profitableand cash generative. This model has a track record of success within KesaElectricals plc and is being rolled out across the Kesa group's businesses inline with changing customer aspirations, so as to differentiate Kesa's retailbrands from those of its competitors. For further information, please visit www.kesaelectricals.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DRTY.L