Fnac Darty Successfully Acquires 96.70% of Unieuro's Share Capital

Fnac Darty, a leading European retailer, has successfully reached 96.70% of the share capital of Unieuro, a leading Italian distributor of consumer electronics and domestic appliances, through a voluntary public tender offer. This acquisition will strengthen Fnac Darty's presence in Europe and create a group with over €10 billion in revenue and nearly 30,000 employees. The offer consideration includes €9.0 in cash and 0.10 Fnac Darty newly issued shares, valuing Unieuro at €12.0 per share. The transaction is expected to close in Q4 2024, with synergies projected at over €20 million before taxes.

The acquisition of Unieuro is a strategic move for Fnac Darty, allowing it to expand its geographical presence and support Unieuro in its digitalization and transformation towards more services. This aligns with Fnac Darty's long-term ambition to be the essential ally for European consumers, supporting them in sustainable consumption. The stable results achieved by Fnac Darty in a challenging context for the sector further confirm its ability to execute its strategic plans effectively.

The acquisition process had a significant impact on the share price and market capitalization of both companies. As the acquisition process progressed, the share price of Unieuro increased, reflecting the value that investors placed on the potential acquisition. This increase in share price contributed to an increase in Unieuro's market capitalization. Meanwhile, the share price of Fnac Darty initially decreased as the acquisition process began, likely due to the dilution of existing shareholders' ownership stake. However, as the acquisition process neared completion and the potential synergies became more apparent, the share price of Fnac Darty began to recover. This recovery in share price contributed to an increase in Fnac Darty's market capitalization. Overall, the acquisition process had a positive impact on the market capitalization of both companies, with Unieuro's market capitalization increasing more significantly due to the higher share price.

In conclusion, Fnac Darty's acquisition of Unieuro is a strategic move that will strengthen its presence in the European market and create a group with over €10 billion in revenue and nearly 30,000 employees. The acquisition process had a significant impact on the share price and market capitalization of both companies, with Unieuro's market capitalization increasing more significantly due to the higher share price. The acquisition aligns with Fnac Darty's long-term ambition to be the essential ally for European consumers, supporting them in sustainable consumption.