CD&R Enters Exclusive Discussions for the Acquisition of France’s Largest Furniture Retailer Network In Partnership Transaction Proposed Transaction Includes Strategic Partnership with One of Europe’s Top 3 Furniture Retailers PR Newswire LONDON, June 29, 2016 LONDON , June 29, 2016 /PRNewswire/ — In the latest of a series of partnership transactions since 2009, Clayton, Dubilier & Rice (“CD&R”) today announced that it has entered into exclusive discussions under which CD&R-managed funds would acquire BUT, the largest furniture retailer network in France , in a 50:50 partnership with WM Holding, a company related to the XXXLutz Group, one of Europe’s three largest furniture retailers. Subject to the information and consultation process with the competent workers’ council and customary regulatory approvals, the transaction would be expected to close in the second half of 2016. If completed, it is expected that Sir Terry Leahy , Senior Advisor to CD&R funds and former CEO of Tesco plc, would assume a senior role which could include the role of Chairman of the Board […]