Dixons Carphone confirmed by merger

In Industry News On

The Boards of Carphone Warehouse Group plc and Dixons Retail plc have announced that they have reached agreement on the terms of a recommended all-share merger of Carphone and Dixons, the merged entity to be known as Dixons Carphone.

According to the terms of the merger, each of Dixons’ and Carphone’s Shareholders will hold exactly 50% of Dixons Carphone on a fully diluted basis taking into account existing share options and award schemes for both companies.

The new company, reportedly worth around £3.8 billion, brings together Europe’s largest independent mobile phone retail chain and its second largest electricals retailer.

Dixons chairman John Allan said: “This merger will create a new, world class British retailer for the new digital age, with new opportunities for growth and greater scale and reach. Colleagues of both complementary businesses are experts in their fields, with a shared passion for technology, connectivity and brilliant service.”

Carphone chairman Sir Charles Dunstone added: “We are incredibly excited about the opportunity today’s news brings to our organisations, our consumers and our investors. Both Carphone and Dixons have a huge commitment to delivering the consumer the very best service, product and advice around the connected world. We have a deep respect for each other and we see the merger of these two great companies as an opportunity to bring our skills together for the consumer and create a new retailer for the digital age. We are also creating jobs and we see many opportunities for further growth.”

The announcement came alongside details for Dixons’ performance for the financial year, with chief executive Sebastian James revealing a full year profit around £150-160 million.

You may also read!

Hotpoint launches GentlePower washing machine

Hotpoint has launched a premium range of washing machines, which includes a 9kg, ‘A’ energy rated, GentlePower washing machine

Read More...

Fisher & Paykel’s first induction hob with integrated ventilation

The newest addition to the Fisher & Paykel appliance range is the brand’s first induction hob with integrated ventilation.

Read More...

Caple debuts its new induction downdraft extractor

Caple’s new induction downdraft extractor (DD810BK) features an integrated motor, which is located just below the hob. When using the

Read More...

Mobile Sliding Menu

©2021 Innovative Electrical Retailing. Datateam Business Media Limited. All rights reserved.
Registered in England No: 1771113. VAT No: 834 8567 90.
Registered Office: 15a London Road, Maidstone, Kent ME16 8LY
open