Item 2.01 Completion of Acquisition or Disposition of Assets.

As previously disclosed in its Annual Report on Form 10-K for the fiscal year ended March 1, 2008, Best Buy Co., Inc. (the "registrant") acquired a 75% interest in Jiangsu Five Star Appliance Co., Ltd. ("Five Star") on June 8, 2006, for $184 million, which included a working capital injection of $122 million and transaction costs. At the time of the purchase, the registrant also entered into an agreement with Five Star's minority shareholders to acquire the remaining 25% interest in Five Star after an additional period of no more than four years, subject to Chinese government approval.

With the support and partnership of Five Star's leadership, the registrant pursued the acquisition of the remaining 25% interest in Five Star to accelerate the integration of Best Buy and Five Star in China. On February 6, 2009, the registrant was granted a business license which converted Five Star into a wholly-owned foreign enterprise, which is now 100% owned by the registrant. In accordance with the terms of the purchase agreement, the registrant expects to close on the acquisition of the remaining 25% interest in Five Star by paying approximately $185 million in cash to Five Star's minority shareholders. The purchase price is primarily based on a previously agreed-upon pricing formula and is expected to be paid by no later than February 21, 2009.

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