19th May 2009 07:00
PR 20/09
7.00am, Tuesday, 19 May 2009]
DSG INTERNATIONAL PLC
UPDATE ON CENTRAL EUROPE
DSG international plc, ("DSGi") announces that it has entered into an agreement for the sale of Electro World Hungary to EW Electro Retail Ltd ("EWH") for a consideration of Euro 1. The sale will see the transfer of all 9 stores, operations and employees to EWH.
The important operations in Czech and Slovakia, which continue to perform well in their markets, remain as part of the Group. Management is planning to restructure the central office operations based in Czech to meet the needs of customers in these two countries better. The operations in Poland remain under review.
John Browett, Chief Executive of DSGi said: "We have reached significant conclusions on our Central European businesses particularly against challenging economic environments in many of our markets. We have concluded that best value for shareholders, suppliers and our staff can be achieved through the sale of our operations in Hungary to EWH."
- Ends -
For further information
David Lloyd-Seed, Group Communications Director, DSGi 01727 205065
Mark Webb, Head of Media Relations, DSGi 01727 205019
Information on DSG international plc is available at http://www.dsgiplc.co.uk
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