FRANCE – Decomeubles Partners acquires BUT for EUR 550m

Decomeubles Partners, which is backed by a consortium composed of Colony Capital, Goldman Sachs and Merchant Equity Partners, has acquired BUT for EUR 550m from Kesa Electricals. The EUR 550m purchase price is subject to adjustment for debt and other items. Kesa Electricals will use a proportion of the net proceeds to buyback shares with the possibility of bolt on acquisitions. The deal which is pending shareholder approval is expected to be finalised in March.