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Kingfisher `well advanced' on demerger.
Kingfisher claims negotiations to demerge Entertainment UK, MVC, Woolworths and the rest of the group's general merchandise division are so "well advanced" that the move will be deliverable by the end of July.
Group chief executive Sir Geoffrey Mulcahy told shareholders at the company's AGM last Wednesday that the separation of Kingfisher's general merchandise businesses, first mooted last September, is well underway.
However, in addition to spinning off Woolworths, Superdrug and the main entertainment businesses as a separately listed retailer, the group is also continuing to explore their sale. "Work on the demerger option has progressed well. At the same time we are well advanced with negotiations with the prospective buyers of ...
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- Press release article from: M2 Presswire May 26, 2000 700+ words
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...separately listed division. Kingfisher has been in negotiations...Woolworths and Superdrug, Kingfisher also plans to spin off its...DVD and video distributor Entertainment UK into the separate business...or Superdrug, and whether Kingfisher would decide to sell or press...
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- Newspaper article from: The Daily Mail (London, England) January 31, 2001 700+ words
Byline: LUCY FARNDON KINGFISHER is pressing ahead with the...and the group's MVC and Entertainment UK businesses will be demerged...separately listed company. Kingfisher will not retain any stake...sources say. Mulcahy wrote to Kingfisher employees yesterday about...
- Kingfisher plans to shed its Woolies keep share price.
- Newspaper article from: The Birmingham Post (England) June 6, 2001 700+ words
...More than 55 per cent of Kingfisher's turnover will be generated...Woolworths and Superdrug, Kingfisher also plans to spin off its...DVD and video distributor Entertainment UK into the separate business...about pounds 270 million. Kingfisher shares were down 5p to finish...
