Kingfisher's Mr Bricolage deal collapses

LONDON, March 30 (Reuters) - Kingfisher (LSE: KGF.L - news) , Europe's largest home improvement retailer, said on Monday its proposed 275 million euro ($298 million) purchase of smaller French rival Mr Bricolage had collapsed.

Doubt had been cast on the deal last week after the majority of the Mr Bricolage board and its largest shareholder, franchisee group ANPF, expressed reservations.

Last July Kingfisher entered into a "binding agreement" with the principal shareholders of Mr Bricolage to acquire their shareholdings subject to satisfactory anti-trust clearance.

The agreement made provision that it would lapse if the anti-trust clearance was not obtained by 31 March 2015 although an extension could be agreed by all parties.

On Friday, the ANPF, which holds 41.9 percent of Mr Bricolage's equity refused any extension.

"Consequently the transaction will not proceed. Kingfisher is considering all of its options," it said.

Mr Bricolage could not immediately be reached for comment. ($1 = 0.9230 euros) (Reporting by James Davey; Editing by Neil Maidment)