Share Dealing
Kingfisher's focus gets regulatory clearance
Rob Langston, 07 July 2011
The Office of Fair Trading has approved plans by B&Q owner Kingfisher (KGF.L) to acquire 30 Focus DIY stores.
According to Kingfisher, regulatory approval means more than 600 jobs will now be saved.
The company revealed the stores would be transferred to its B&Q format 'as soon as possible'.
Ian Cheshire, group chief executive at Kingfisher, said approval would pave the way for futher investment in local communities.
He added, 'I would like to thank the OFT for acting swiftly, enabling so many jobs to be saved.'
The £23 million cash deal was first announced in May after the appointment of administrators at the national DIY chain.
To receive more relevant articles like this one, why not sign up to our weekly newsletters, click here
Advertisement
Free Magazine: How To Invest For Income
Free Magazine: How To Invest For Income In this free edition of MarketViews, Peter Temple highlights key features that can make income-based investing generate such good results. Get your free copy here
Free Guide: 8 Common Trading Indicators
Get this free guide to find out how to use technical indicators to give you a sense of what the market will do next. Get your free copy here.
No hassle and no admin fees. Open an account now with The Share Centre. Find out more.
A free guide to Gold Investment
Physical Gold protects against global economic downturn by providing crucial portfolio balance. You can buy gold bars for your UK pension and receive up to 40% price discount via tax relief. Buy tax-free gold coins as an alternative to poor interest rates. Find out more and download this free guide to gold investment.
The TaxGuide.co.uk has a wealth of tips and advice from working out your tax bill, through to the latest personal tax rules. Get your personal tax tips today.
FREE Report: Inside Investment Trusts
Written by the team behind What Investment, this exclusive FREE report covers:
- Why Investment Trusts are better than Unit Trusts
- How new legislation is broadening the appeal of Investment Trusts
- Where to look for buying opportunities
- Why now is the time to buy Investment Trusts
- The Investment Trusts to invest in at the moment
Comments
Please register or login to comment on this article.