Currys is weighing up offers for its Greek and Cypriot business Kotsovolos after receiving interest from “several potential buyers”.
The electricals giant said the “strategic review” of Kotsovolos gained the interest of potential buyers that have since submitted “non-binding offers, which the noard and its advisers are currently evaluating”.
It was announced in June that Kotsovolos was undergoing a strategic review to evaluate all options. It was described as a “strong-performing and profitable business” but not currently “reflected in the group’s valuation”.
In June, Currys group chief executive Alex Baldock said: “Currys’ performance is robust in UK and Ireland, where our transformation is working, and we’ve taken action to drive a profitable recovery in the Nordics.
“Kotsovolos is an excellent business with a bright future and now is the right time to assess how best to take Kotsovolos forward to maximise value for our shareholders.”
Currys said in a recent statement that the review was “ongoing” and it would provide an update “when appropriate”.
It added: “At this stage, there can be no certainty as to the outcome of the review.”
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