Disposal

Kingfisher PLC
17 December 2007

Monday 17 December 2007





Kingfisher announces agreement to sell B&Q Taiwan joint venture





Kingfisher plc today announces an agreement to sell its 50% joint venture stake
in B&Q Taiwan to its joint venture partner, Test Rite International, for a total
cash consideration of US$106.5 million (£51.6 million). The sale is expected to
be completed by 31 December 2007 with the proceeds used to reduce debt. The
transaction is subject to the approval of the Taiwanese Investment Commission.



Taiwan was Kingfisher's first entry into Asia in 1996 with a highly adapted B&Q
format. Supported by its joint venture partner, B&Q quickly expanded across
Taiwan and today operates 21 stores and employs around 1,800 people. In the year
to 3 February 2007 Kingfisher consolidated a pre-tax profit of £5 million and
net assets of £20 million from its 50% stake in the business. Subject to
finalising the net asset value on completion as at the end of December 2007, the
profit arising on disposal is expected to be around £25 million.



Commenting on the sale, Peter Jackson, Kingfisher's Chairman, said: 'Our
Taiwanese joint venture has been a success, providing good investment returns
for shareholders while also acting as a useful springboard for entering the
large and fast-growing mainland Chinese market. However, after 11 years of
expansion B&Q Taiwan now offers only limited opportunities for future market
share growth for Kingfisher. This sale is consistent with our focus on capital
allocation and investment returns.'



Enquiries:


Ian Harding, Group Communications Director                         020 7644 1029

Nigel Cope, Head of Communications                                 020 7644 1030



Sarah Gerrand, Head of Investor Relations                          020 7644 1032



Further copies of this announcement can be downloaded from www.kingfisher.com or
by application to: The Company Secretary, Kingfisher plc, 3 Sheldon Square,
London, W2 6PX.





Notes to editors



B&Q Taiwan has 21 stores having opened the first one in 1996. It operates 97,000
square metres of selling space and employs over 1,800 people.



There are 63 B&Q stores in China with plans to grow to at least 100 stores.



Test Rite first started in Taiwan in 1978 as a major exporter of hand tools. It
now operates a range of businesses in retailing, wholesaling and professional
services.



Company profile



Kingfisher plc is Europe's leading home improvement retail group and the third
largest in the world, with over 775 stores in 10 countries in Europe and Asia.
Kingfisher's main retail brands are B&Q, Castorama, Brico Depot and Screwfix.
Kingfisher also has a 21% interest in, and strategic alliance with, Hornbach,
Germany's leading large format DIY retailer, with over 120 stores in Germany and
eight other European countries.




                      This information is provided by RNS
            The company news service from the London Stock Exchange