ScS is set to be the latest firm to leave the stock market in London after agreeing a near £100m takeover by an Italian furniture retailer.
ScS is set to be the latest firm to leave the stock market in London after agreeing a near £100m takeover by an Italian furniture retailer
ScS shares soared 60.4pc, or 102p, to 271p.
The proposed deal sees Poltronesofa enter the UK market for the first time, adding to its existing European operations across Italy, France, Belgium, Switzerland, Cyprus and Malta.
The group has around 300 shops in total across Europe.
ScS has 100 stores in the UK and a website offering, as well as the recently bought Snug brand.
Alan Smith, non-executive chairman of ScS, said: ‘The board believes Poltronesofa will bring significant benefits to ScS through its broad industry expertise.’
Poltronesofa said the deal fits in with its aims to continue growing across Europe.
Chief executive Renzo Ricci said the deal will help ScS ‘realise its full growth potential’.
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