Studio Retail Group PLC Further re Disposal of Education (9014D)
02 Noviembre 2020 - 01:00AM
UK Regulatory
TIDMSTU
RNS Number : 9014D
Studio Retail Group PLC
02 November 2020
2 November 2020
Studio Retail Group plc
Proposed Disposal of Findel Education
Further to the announcement on 16 October 2020 by the CMA of its
Provisional Findings into the potential sale of Findel Education to
YPO, the parties do not believe that there is a reasonable prospect
of the transaction being cleared despite the dynamism and highly
competitive nature of the market, and the benefits arising from the
proposed transaction for schools and nurseries. The transaction
will not now proceed to completion. In light of this, the Board
will be assessing all options with a view to maximising value for
its stakeholders and will provide an update on next steps at the
interim results on the 8(th) December.
Phil Maudsley, Group CEO commented:
" Whilst we are naturally extremely disappointed with the CMA's
interpretation of this highly competitive market, Findel Education
continues to have a sound digital-first strategy to deliver
profitable growth over the medium term. I would like to thank the
teams at Findel Education and YPO for their hard work over the last
year."
Enquiries
Studio Retail Group plc
Phil Maudsley, Group CEO
Paul Kendrick MD Studio Retail Ltd and CEO Designate
Stuart Caldwell, Group CFO
0161 303 3465
Tulchan Communications
Will Smith
020 7353 4200
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