B&M European Value to sell loss-making German business
B&M European Value Retail has agreed to sell its loss-making German business Jawoll for €12.5m to a consortium led by AC Curtis Salta, which is funded by Adiuva Capital.
B&M European Value Retail
314.80p
13:38 10/01/25
0.00%
314.80p
B&M European Value Retail S.A. (DI)
316.60p
13:30 10/01/25
-0.72%
-2.30p
Cboe UK 250
17,210.02
13:39 10/01/25
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17,210.02
Cboe UK 250 NTR
25,546.00
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25,546.00
Cboe UK 350
14,552.34
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0.00%
14,552.34
Cboe UK 350 NTR
24,010.66
13:39 10/01/25
0.00%
24,010.66
Cboe UK All Companies
14,433.60
13:39 10/01/25
0.00%
14,433.60
Cboe UK All Companies NTR
24,504.23
13:39 10/01/25
0.00%
24,504.23
Cboe UK Consumer Non-Cyclicals Sector
14,670.82
13:39 10/01/25
0.00%
14,670.82
Cboe UK Consumer Non-Cyclicals Sector NTR
24,890.20
13:39 10/01/25
0.00%
24,890.20
FTSE 250
19,850.29
13:30 10/01/25
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FTSE All-Share
4,491.18
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General Retailers
4,768.09
13:30 10/01/25
-0.51%
-24.56
The discount retailer said on Wednesday that on completion, the purchaser will also repay Jawoll's bank debt.
Jawoll is a general merchandise discount retailer with 89 stores in the North-West of Germany. In the year to the end of March 2019, it made losses of £15.4m.
Completion of the deal is expected to occur within the next 28 days or by a long stop date of 1 June 2020 and B&M said the transaction will have no material impact on the company’s leverage.