British group GUS to split retail and business units

0 Comments | AFP, March, 2006

LONDON (AFP) — GUS said that it plans to demerge Experian, its business services unit, and the Argos Retail Group.

"The Board of GUS proposes, subject to shareholder approval, that the two businesses should be separated by means of a demerger with both ARG and Experian becoming independently listed on the London Stock Exchange.

"This is expected to take place in six to twelve months time," GUS said in a statement on Tuesday.

GUS' remaining two units are to be demerged after the group spun off its luxury goods retailer Burberry in December.

The US investment banking group Merrill Lynch said the latest demerger could create two London-listed companies with a combined market value of just under 11.0 billion pounds (15.93 billion euros, 19.24 billion...