Dixons Retail, the electrical retailer and services group, has announced an agreement to sell Webhallen to Komplett As, a Norwegian based e-commerce company for a cash consideration of approximately SEK140m.
The sale of Webhallen, a subsidiary of PIXmania S.A.S, is expected to be completed by the end of May.
The transaction is part of Dixon's plan to rationalise its portfolio, and forms part of the company's commitment to refocus its PIXmania business on its key strengths, putting it on a firmer strategic footing.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sebastian James, Chief Executive of Dixons Retail said: "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."
NR
