Toys R Us says it is selling off global assets

By ROI-NJ Staff
Wayne | Apr 23, 2018 at 11:15 am

As it winds down operations, Wayne-based Toys R Us has announced some sales of international assets.

The retailer said recently that it has entered into a definitive agreement to sell its Central Europe operations — in Germany, Austria and Switzerland — to Smyths Toys Superstores for a purchase price of approximately $96.5 million.

Smyths Toys intends to rebrand the stores under its own name, according to documents from Toys R Us.

In addition, Toys R Us has established a stalking horse share purchase agreement to sell its equity in Toys R Us’ Canadian operations. The deal, with Fairfax Financial Holdings Ltd., sets a base purchase price of approximately $234 million, subject to an auction slated for this week.

The deals are subject to various conditions and approvals, Toys R Us said.

ROI-NJ Staff | editorial@roi-nj.com | @ROINJNews