Marks & Spencer Group PLC
14 August 2003
Issued: Thursday, 14 August 2003
MARKS & SPENCER ANNOUNCES IT HAS CEASED
DISCUSSIONS TO SELL KINGS SUPER MARKETS, INC.
Marks and Spencer Group p.l.c. today announces that it is no longer in
discussions to sell Kings Super Markets, its North American supermarket
business.
Roger Holmes, Chief Executive of Marks & Spencer commented:
'In the current US climate it has not been possible for interested parties to
raise sufficient funds to purchase Kings at what we perceive to be a fair price.
Although Kings is not central to our strategy, we believe that maximising
shareholder value will be achieved by working with the senior management team to
develop the business and drive financial performance.'
For further information, please contact:
Corporate PR Lisa Attenborough / Bella Pagdin 020 7268 6166/1967
Investor Relations Sarah McGlyne 020 7268 1563
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.