16th Apr 2008 08:00
Home Retail Group Plc16 April 2008 16 April 2008 Home Retail Group plc OFT announcement regarding the purchased Focus DIY store properties Home Retail Group plc, the UK's leading home and general merchandise retailer,notes yesterday's announcement by the OFT that the acquisition of the 27purchased Focus DIY stores will not be referred to the Competition Commission,subject to a satisfactory undertaking being delivered with regard to one store.The undertaking requires Home Retail Group to divest either the existingHomebase store or the purchased Focus store in the catchment where the OFT hadcompetition concerns at a local level. As previously announced, the planned net increase in stores was to be 22, asthere were to be five relocations of existing Homebase stores to newly acquiredFocus properties. With the outcome of today's OFT announcement affecting onestore, the net increase in stores will now be 21. Aside from the potentialimpact related to this one store and the timing impact caused by the delay inbeing able to integrate the remaining acquired stores, no further materialchange is anticipated to any of the previously announced financial projectionsof the transaction. Enquiries Analysts and investors (Home Retail Group) Richard Ashton Finance Director 01908 600 291Stuart Ford Head of Investor Relations Media (Finsbury)Rollo Head 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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