Kingfisher sells stores

Kingfisher has sold seven large-format B&Q Warehouse stores in Britain with a combined retail area of around 65 000 m² to the British Land Company for a total cash payment of £ 198 mio (€ 287.7 mio). Kingfisher has negotiated 20-year leases for the stores at current market rental levels. The proceeds of the transaction are to be used for the repayment of existing debt and for investment in Kingfisher's worldwide store opening programme.