A Darty store in Lille, France, on September 7, 2017. DENIS CHARLET/AFP
Czech businessman Daniel Kretinsky has launched a takeover bid for French-based electronics and appliance retailer Fnac Darty – a deal valuing the struggling group at around €1 billion ($1.18 billion), the company said on Monday, January 26.
Kretinsky is already Fnac Darty's largest shareholder, with 28.5%, and has offered €36 a share with the aim of securing a majority stake of over 50%. "The board of directors of Fnac Darty unanimously welcomed the offer," the company said in a statement.
The firm's other main shareholder – Germany retail conglomerate Ceconomy, which holds around 20% – is currently being acquired by the Chinese e-commerce giant JD.com.
Subscribers only
