De Pardieu advises EP Group, a company controlled by Daniel Křetínský, on its voluntary takeover bid for Fnac Darty shares through its subsidiary EP FR HoldCo (a vehicle directly held up to 56% by EP Group and up to 44% by J&T Capital Partners, a Czech company that manages the co-investments of Patrik Tkáč (and the J&T group) alongside Daniel Křetínský).
On 26 January, EP Group and Fnac Darty announced the execution of a tender offer agreement pursuant to which the group controlled by Daniel Křetínský – already the distributor’s largest shareholder through its vehicle Vesa Equity Investment – intends to acquire the balance of the outstanding shares and OCEANEs issued by Fnac Darty, valuing the target at €1.1 billion.
This friendly takeover bid, unanimously welcomed by the board of directors of Fnac Darty, reflects EP Group’s intention to become the group’s long-term majority shareholder and to support the implementation of the “Beyond Everyday” 2030 strategic plan of Fnac Darty.The transaction, which is fully financed, does not provide for any squeeze-out procedure or delisting and remains subject to the satisfaction of customary regulatory conditions, including the review by the Autorité des marchés financiers (AMF).