Kingfisher sells stake
2014.12.24
Home improvement group Kingfisher said on Monday it had agreed to sell a 70 percent stake in its loss-making B&Q China business to Wumei Holdings Inc for 140 million pounds ($219 million).
The agreement follows Kingfisher's announcement in March of its plans to look for a strategic partner to help develop its B&Q business in China, which is made up of 39 stores and employs 3,000.
Kingfisher, which trades as B&Q and Screwfix in Britain, is Europe's biggest home improvement retailer.
Beijing-based Wumei has a retail network comprising around 650 supermarkets and 10 department stores in northern, eastern and western China.
Source: Global times
About JINHAN FAIR
JINHAN FAIR for Home & Gifts（Poly Spring/Autumn Fair Phase Ⅱ） is a leading international trade platform organized by Poly Exhibition. Established in 2000, JINHAN FAIR has been successfully held for 53 editions and is recognized as one of China's most established sourcing fairs for the home and gifts industry. JINHAN FAIR is also the only Union of international Fairs-approved export trade fair in the home & gifts sector in China.
The 54th Jinhan Fair
Jinhan Fair Online Exhibition
Visitor Registration
Booth Application