Anglo-French electricals giant Kesa has confirmed that it is in exclusive talks to sell its French furniture and electricals business BUT to a private equity consortium.

As first revealed in Retail Week (October 26), Kesa is in talks with Colony Capital, Goldman Sachs and MFI-owner Merchant Equity Partners to sell the business for €550 million (£406 million).

Kesa, which owns the Comet chain in the UK, said the deal should be completed over the next few months subject to regulatory approvals.

Topics