Dixons Retail plc, Europe's leading specialist multichannel electrical retailer and services company, announces that agreement has been reached to sell Webhallen, a subsidiary of PIXmania S.A.S, to Komplett AS, a Norwegian based e-commerce company for a cash consideration of approximately SEK140m. Webhallen, based in Sweden, predominantly sells media, games and related products from 10 stores as well as online. The transaction is expected to complete by the end of May.
Following the sale last month of Equanet, this transaction is another step in rationalising Dixons Retail's portfolio. It forms part of the company's commitment to refocus its PIXmania business on its key strengths, putting it on a firmer strategic footing.
Sebastian James, Chief Executive of Dixons Retail commented: "We continue to explore ways to put Pixmania in a better strategic position. Following a material reorganisation of the business earlier this year, I am pleased that we can confirm another small but significant step in that process today with the disposal of the Webhallen operation in Sweden."
Ole Vinje, Chief Executive Officer of Komplett AS commented: "We are very pleased that Webhallen will be joining the Komplett Group. This acquisition will further strengthen our position in Sweden and Scandinavia. We find Webhallen's multi-channel strategy very interesting with a view to further development."
For further information
IR, PR & Corporate Affairs Director, Dixons Retail
Tom Burns, Nick Cosgrove
020 7404 5959
Information on Dixons Retail plc is available at http://www.dixonsretail.com