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B&Q owners' fails to cement French deal

Kingfisher, Europe's largest home improvement retailer, said yesterday its proposed €275m purchase of smaller French rival Mr Bricolage had collapsed.

Doubts had been raised regarding the deal last week after the majority of the Mr Bricolage board and its largest shareholder, the Association Nationale des Promoteurs de Faites Le Vous-Mene (ANPF), expressed reservations.

In July B&Q owner Kingfisher struck a deal with the ANPF, which holds 41.9pc of Mr Bricolage, and the founding Tabur family, which holds 26.2pc, to buy their holdings for €15 per share. That deal could lapse if it is not sealed by March 31, although an extension could be agreed by all parties.

Irish Independent