Dixons has completed the sale of its Turkish arm Electroworld to local electricals specialist Bimeks for an undisclosed sum.
All 32 Electroworld stores, including 18 franchise shops, will now be run by Bimeks. The intention to strike a deal was first revealed in September.
Dixons is scaling back its international arm to focus on markets where it has “leading multichannel operations”, according to chief executive Sebastian James.
James said: “I’m delighted to have completed this sale so quickly, ensuring a smooth transition for our colleagues and for both businesses. The combined group has an exciting future and I know that it will continue to flourish with an improved geographical spread of stores across Turkey.
“For Dixons, this is the first of three important strategic transactions streamlining our group. By focusing on markets where we have leading multichannel operations, we will be able to drive even better value for our customers.”
Bimeks founder and chairman Murat Akgiray said: “I strongly believe that ElectroWorld’s store network and product portfolio complement those of Bimeks very well.”