Kingfisher plc (LSE:KGF) entered into a non-binding memorandum of understanding to acquire 68.1% stake in Mr. Bricolage SA (ENXTPA:MRB) from Forcole company, Elimel Investment, Dicarol Investissement, Action Nationale des Promoteurs du Faites-Le Vous-Meme (ANPF), SIMB and Tabur Family for approximately €160 million on April 2, 2014. Under the terms of the memorandum of understanding, Kingfisher will acquire 26.2% from the Tabur family and 41.9% from Association Nationale des Promoteurs de Faites at €15 price per share. As part of the transaction, Mr Bricolage's existing franchisee and affiliate network would be maintained and its members offered improved commercial terms. The transaction is conditional upon signing of an agreement protocol and anti-trust clearance. The transaction is expected to complete until the end of Kingfisher's 2014/15 financial year. As of July 23, 2014, Kingfisher signed binding agreement to acquire 68.1% stake in Mr. Bricolage SA. Subsequently, mandatory offer would be made by Kingfisher to acquire shares held by minority shareholders. The transaction is expected to be completed in early 2015. As of March 26, 2015, Mr Bricolage and French competition authority indicated that the undertakings in France required to obtain the competition clearance were no longer in their interests.

Laurent Baril, Romain Nourtier, Akeel Sachak and Paul Mitchel of Rothschild & Cie acted as financial advisors for Kingfisher. Alan Mason, Guillaume Goubeaux, Sami Jebbour, Sibylle Renard-Payen, Noémie Laurin, Maria Trabucchi, Jérôme Fabre, Laurence Harvey Wood and Chek-Lhy Luu of Freshfields Bruckhaus Deringer LLP acted as legal advisors for Kingfisher. Ernst & Young acted as accountant for Kingfisher and provided financial due diligence. As of March 26, 2015, Mr Bricolage and the ANPF indicated that the undertakings in France required to obtain the competition clearance were no longer in their interests. Without the consent of Mr Bricolage and the ANPF, the competition clearance undertakings necessary to finalise the transaction cannot be given. Christophe Marchand, Emmanuelle Dittmer, Antoine Burgermeister of Edmond de Rothschild Corporate Finance, and George Chabenne and Philippe Bichet of Natixis acted as financial advisors for ANPF and Tabur Family. Hugues Mathez, Franck De Vita, Noémie Baroux, Jean-Julien Lemonnier, Alexandre Jaurett, Juliette Goyer and Emmanuelle Pontnau-Faure of White & Case, and Ioana Nicolas, Frédéric Jungels, Marcus Billam and Catherine Maison-Blanche of Allen & Overy acted as legal advisors for ANPF and Tabur Family. Castorama and Brico will join the executive team.

Kingfisher plc (LSE:KGF) cancelled the acquisition of 68.1% stake in Mr. Bricolage SA (ENXTPA:MRB) from Forcole company, Elimel Investment, Dicarol Investissement, Action Nationale des Promoteurs du Faites-Le Vous-Meme (ANPF), SIMB and Tabur Family on March 30, 2015. The deal was terminated as anti-trust clearance could not be obtained.