Kesa, the Anglo-French electricals group, has completed the sale of furniture chain BUT.

A consortium comprising Colony Capital, Goldman Sachs and Merchant Equity Partners – which owns MFI in the UK – paid €550 million (£435.9 million) for BUT, which has 112 shops in France.

Last year, BUT made a retail profit of €53.1 million (£42.1 million) on sales of €876.4 million (£694.5 million).

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