A voluntary public tender and exchange offer will be filed jointly by Fnac Darty and Ruby Equity Investment.
Unieuro, listed on the Milan Stock Exchange, is the Italian leader in electronics and household appliances. It has a dense network of integrated and affiliated stores throughout Italy, with a significant presence in the north and center of the country. The combination of Fnac Darty and Unieuro would create a leader in the sale of electronics, household appliances, publishing products and services in Western and Southern Europe, with sales of over €10 billion, 30,000 employees and more than 1,500 stores.
The tender offer is expected to be launched after satisfaction of the customary conditions precedent relating to Italian regulatory approvals. The transaction will further be subject to a merger control review. This combination is expected to be closed in the fourth quarter of 2024.
De Pardieu’s team comprised Éric Muller and Etienne Boursican (partners) and Thomas Grenard (associate) on the corporate aspects and Alexandre Eberhardt (partner) on the competition law aspects.
The Milan office of White&Case LLP was in charge of Italian legal aspects.