Currys, the British electricals retailer at the centre of a potential takeover battle, said today a deal to sell its Greek unit would complete in the first half of April after it was given the go-ahead by authorities there.
Public Power Corporation was cleared by Greece's competition regulator to buy Currys' Kotsovolos unit, the retailer said.
Net cash proceeds would were expected to come in at £156m, Currys added, saying the payment would be used to reduce debt.
The deal was first announced in November for an enterprise value of £175m.
Currys in February rejected a £757m bid from US investor Elliott Advisors, but has yet to hear from Chinese suitor JD.com which has also expressed its interest.
The UK regulator has set March 16 and March 18 as deadlines for Elliott and JD.com respectively to make a firm offer for Currys or walk away.
