Great Universal Stores (GUS), the UK-based concern that runs information firm Experian and Argos Retail Group, will split the two businesses. The two resulting companies will be independently listed on the London Stock Exchange.
The split is expected to take effect within six to 12 months, according to GUS. When it occurs, Experian will issue new stock to both existing shareholders and new investors.
Each company will continue to be led by its existing management team. David Peace will remain as chairman of Experian, along with CEO Don Robert and finance director Paul Brooks. At Argos, Oliver Stocken will stay on as chairman, as will CEO Terry Duddy and finance director Richard Ashton.
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