Dixons agrees Pixmania, Turkish disposals

Dixons Retail, Europe's second-biggest electrical goods retailer, said today it had agreed to dispose of its loss-making Pixmania ecommerce business and its Turkish operation.

Dixons said it had received an irrevocable offer from Mutares AG, a German listed industrial holding company, to purchase Pixmania, which operates in France and the Czech Republic.

The deal will involve Dixons providing €69 million of cash to Mutares.

Dixons also said it had agreed to sell its ElectroWorld operations in Turkey to local firm Bimeks for about £2 million.

The group added that underlying first quarter sales rose 2 per cent, in line with analysts’ expectations. (Reuters)