Currys is set to sell its Greek and Cypriot business for £175m as it looks to focus on its largest markets including the UK and Ireland.
The disposal follows a strategic review of the business back in June and is designed to simplify the group.
Alongside the UK & Ireland, the electricals retailer will also focus on its Nordic arm.
The sale is expected to be made in the first quarter of 2024.
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In the short term, Currys intends to use proceeds made from the disposal to pay down debts.
Currys chief executive Alex Baldock said: “As a group, we’re focused on maintaining our encouraging momentum in the UK & Ireland and getting the Nordics back on track; this disposal will further strengthen the foundations on which we do both”.
Back in July, Currys’ revealed its full-year profits were dragged down by weak performance in the Nordics.
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