Kingfisher disposes Castorama Russia to Maxidom

Kingfisher plc (LON: KGF), the London-headquartered home improvement retailer, announced the completion of Castorama Russia to the Russia-based Maxidon.

  • Kingfisher has closed the deal for a comprehensive sum of £73 million or RUB 7.4 billion.
  • Out of the total proceeds to the tune of £73 million from Maxidom, 80 per cent will be paid at the completion of the transaction, whereas the remainder of 20 per cent will be extended in equal instalments over two years.
  • The Kingfisher-Maxidon deal, completed on 30 September 2020, has already been granted all the regulatory approvals.
  • Thierry Garnier, CEO of Kingfisher, has thanked Castorama Russia colleagues for their respective contribution to the enterprise.