Bricorama president repurchases shares

Jean-Claude Bourrelier, founder and president of Bricorama, has submitted to the DIY retail group's shareholders, who hold 12.5 per cent of the company's equity, an offer to repurchase their shares. The Bourrelier family, which owns 87.5 per cent of the company, is setting aside € 40 mio for this purpose. According to press reports, the company has denied speculation that Bricorama might possibly be sold to the Adeo Group (Leroy Merlin, Bricoman/Bricomart, Aki, Bricocenter and Weldom) once the transaction has been completed. The Bricorama Group recorded sales of € 632 mio with 176 DIY stores in France, Belgium, the Netherlands and Spain in 2006.