The Channel logo


By | Kelly Fiveash 21st December 2007 10:47

Fayrewood waves au revoir to French periperals unit

DCC snaps up firm for €12m

Fayrewood Plc confirmed yesterday that it had sold French outfit Banque Magnetique SAS to DCC Plc's retail disty subsidiary.

Gem Logistics scooped up the consumer electronics and IT peripherals firm after DCC paid Fayrewood €12m to complete the deal.

A further €500,000 will be handed over on 30 June next year subject to Banque Magnetique racking up pre-tax profit of at least €5.5m.

In recent weeks, Fayrewood has been fueling speculation that it will be imminently bought out.

It had initially been shy about revealing which firms it was in talks with. However, earlier this week it confirmed that North Atlantic Value LLP was one possible bidder for the Aim-listed company.

Fayrewood shares are currently trading at 124 pence on the London Stock Exchange, up nearly two and half per cent on the previous close. ®

alert Send corrections


shutterstock_183801788_container ship

Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers
Kids on wall. Pic: US Army/Capt Emily Skolozynski


Better to play nicely than try to muscle in on territory


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.