Fnac completed the acquisition of MediaMarkt in Portugal from MediaMarkt.

Fnac, a multinational retail company, completed the acquisition of MediaMarkt in Portugal from MediaMarkt, an electronics retailer. Financial terms were not disclosed. "Our presence in Portugal has been a success story for 25 years and today’s announcement will open a new chapter of expansion. The acquisition of MediaMarkt will allow Fnac Darty to increase its presence by almost a third in Portugal, a dynamic market for the Group. It is a remarkable opportunity for us to achieve a strong market position and offer our Portuguese customers a complete range of products and services at the heart of our Fnac Darty project. By joining forces in after-sales and other services, we can extend our actions in favour of responsible consumption and a circular economy. I look forward to welcoming the 450 new employees of MediaMarkt and sharing with them this new adventure," Enrique Martinez, Fnac Darty Chief Executive Officer.