1. News
October 30, 2013

Completion of Sale of Electroworld

Dixons Retail plc ("Dixons Retail"), Europe's leading specialist multi-channel electrical retailing and services company, today announces that it has completed the sale of its ElectroWorld operations to Bimeks, one of the leading electrical specialist retailers in Turkey.

The transaction, first announced in September, will see all 32 ElectroWorld stores, including 18 franchise stores pass to Bimeks.

Commenting on the sale, Sebastian James, Dixons Retail Group Chief Executive, said:

"I’m delighted to have completed this sale so quickly, ensuring a smooth transition for our colleagues and for both businesses. The combined group has an exciting future and I know that it will continue to flourish with an improved geographical spread of stores across Turkey. For Dixons, this is the first of three important strategic transactions streamlining our Group. By focusing on markets where we have leading multi-channel operations, we will be able to drive even better value for our customers."

Commenting on the deal, Murat Akgiray, the Founder and Chairman of Bimeks, said:

"I am thrilled today to have successfully completed one of the fastest and largest corporate acquisitions in the Turkish electronic retail market. I would like to personally thank all Bimeks, ElectroWorld, and Dixons Retail staff who worked extremely hard to make this happen. I strongly believe that ElectroWorld’s store network and product portfolio complement those of Bimeks very well. The new Bimeks group incorporating ElectroWorld is more dedicated than ever to providing our customers with excellent service and deals and to continue to grow on the path to becoming the leading electronic retailer in Turkey."