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Dixons Carphone agrees sale of The Phone House Spain

14 July 2017 07:19

Dixons Carphone has agreed to dispose of its entire holdings in The Phone House Spain, Connected World Services Europe and Smarthouse to Global Dominion Access, a global provider of technological services and solutions, headquartered in Bilbao, Spain.

Dixons Carphone said that following completion, which was expected to take place by the end of Q2, it would receive a consideration of €55 million less working capital adjustments, payable in two non-contingent tranches at completion and in January 2018.

It said proceeds would be reinvested back into the business.

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