EP Group to acquire the remaining shares in Fnac Darty at a €1.1bn valuation.

EP Group, a major European industrial conglomerate controlled by Czech billionaire Daniel Křetínský, offered to acquire the remaining shares in Fnac Darty, a European retailer specializing in household appliances, consumer electronics and cultural goods, at a €1.1bn valuation. Vesa Equity Investment, an affiliate of EP Group, holds a 28.5% stake in Fnac Darty. "Since our entry into the capital in 2021, we have been able to appreciate the strength of Fnac Darty's omnichannel model and the relevance of its "Beyond Everyday" strategy. With this friendly offer, which has been welcomed by the Board of Directors, we want to consolidate our commitment by becoming the majority shareholder in the long term. We are committed to supporting the current management team led by Enrique Martinez and ensuring the company's French foothold, while providing an attractive liquidity opportunity to shareholders who wish to do so," Daniel Křetínský, EP Group Chairman and CEO.