Retailer Currys sells up in Greece for €200m to focus on UK, Ireland, and Nordics

Group said the disposal would simplify its structure, strengthen its balance sheet, increase flexibility to invest and grow the business, and improve shareholder returns

The firm earlier this year cancelled its final dividend and lowered pension contributions to save cash as its Nordic business continues to battle tough competition.

Electricals retailer Currys said it would exit Greece after agreeing to sell its Kotsovolos unit to Greek power utility Public Power Corporation for an enterprise value of €200m. 

Shares in Currys were up almost 5.5% at one stage, paring losses over the last year to 24%, after it said it would use the proceeds to cut debt and reduce its pension fund's accounting net deficit.