Kingfisher considers delisting Castorama shares

Yesterday saw Kingfisher file with the French stock market regulators for the approval of its formal cash offer for the minority shareholding in Castorama. The British group will acquire a casting vote at meetings of the executive bodies of Castorama through its wholly-owned subsidiary Socodi. In the event that the group holds at least 95 per cent of the voting rights, Kingfisher will consider whether to make a public offer for the shares still held by a diversity of shareholders. Castorama shares may perhaps be delisted following such an offer.