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Examples
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Kesa Chief Executive Thierry Falque-Pierrotin told reporters that OpCapita's turnaround plan for the business was similar to Kesa's own, but the sale releases Kesa from Comet's onerous lease bill of £90 million a year.
Kesa Sells Loss-Making Comet Chain Kathy Gordon 2011
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Kesa's largest shareholder, activist investor Knight Vinke which holds a 20% stake, has been pressuring the group to come to a decision about a sale quickly.
Kesa Considering Comet Options as Sales Slump 22% Kathy Gordon 2011
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Kesa's chairman, David Newlands , said the company has written off its £50 million investment and conceded the company had to pay to get rid of the business, which OpCapita has agreed to run as a going concern for at least 18 months following the purchase.
Kesa Sells Loss-Making Comet Chain Kathy Gordon 2011
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In its previous incarnation as Merchant Equity Partners, OpCapita was part of a consortium which bought Kesa's underperforming French furniture and electricals retail chain, BUT, in 2008 for €550 million.
Kesa Sells Loss-Making Comet Chain Kathy Gordon 2011
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The weak U.K. performance also spread to Europe where Kesa's Darty chain in France reported a 3.7% drop in first quarter sales, reflecting a reversal of economic fortunes for the electricals sector in France amid falling consumer confidence.
Kesa Considering Comet Options as Sales Slump 22% Kathy Gordon 2011
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Kesa's largest shareholder, activist investor Knight Vinke which has an 18% stake in the group, backed the Comet sale, which it hopes will be a precursor to a listing of Kesa's remaining businesses, particularly Darty, on the Paris stock exchange.
Kesa Sells Loss-Making Comet Chain Kathy Gordon 2011
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Carphone Warehouse dropped 3.3% with traders stating Kesa's results do not bode well for Carphone's joint venture with Best Buy to sell electrical goods.
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TomTom also suffered as a result of Kesa's cautious outlook, falling 3.9%.
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The day was drawing to a close, but he only needed this last piece of information to find Kesa's killer.
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Akitada knew that he must solve Kesa's murder and earn the gold promised by Wataru, and he must do so today or face the wrath of the chancellor himself.
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