11th Sep 2006 07:02
DSG International PLC11 September 2006 7.00am BST, 11 September, 2006 DSG INTERNATIONAL PLC ACQUIRES 40% STAKE IN DANISH ELECTRICAL RETAILER, F-GROUP DSG international plc announces today that it has agreed to acquire a 40% stakein F-Group, a leading consumer electronics retailer in Denmark for aconsideration of 175 million Danish Kroner (approximately £16 million). Under the terms of the transaction, DSG international will acquire a 40% stakein the business from Industri Kapital, a Pan-European private equity firm. Theremaining 60% stake is owned by the Kjaer family. DSG international has a calloption agreement to buy the remaining 60% stake in early 2010. F-Group trades in Denmark through a network of five Electric City superstoresand 64 Fona High Street stores and employs 850 people. F-Group also runs anetwork of product repair centres, branded Elektronik-Centret, that providerepair and support to customers irrespective of where they bought theirelectrical products from. Turnover for year ending 30 September 2005 wasapproximately 2 billion Danish Kroner (approximately £180 million). The transaction is subject to European Competition Authority approval. John Clare, chief executive of DSG international, commented: "I am delighted toannounce our investment in F-Group, a leading retailer in our sector in theDanish market. The combination of F-Group and El Giganten, our 26-store chain inDenmark, will give us leadership in the Danish market and is consistent with ourstrategic focus on international growth." - Ends - More information: David Lloyd-Seed, Director of Investor Relations 01727 205065 Hamish Thompson, Director of Media Relations 01727 203195 / 07702 684290 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:
DXNS.L