UK-based electronics retailer Currys on Friday announced it has sold its market-leading Kotsovolos business in Cyprus and Greece for €200 million, according to Reuters.
The name of the buyer has yet to be revealed.
The only details given out is that net cash proceeds of the disposal are expected to be approximately €179 million at completion.
And that the disposal was unanimously agreed by board to be in the best interests of shareholders.
In short term, board intends to use proceeds to reduce net debt, the report also said.
