Fnac Darty: unfavourable court ruling in UK

(CercleFinance.com) - Fnac Darty says that the High Court in London has ordered its subsidiary Darty Holdings SAS to repay approximately 89.
6 million pounds relating to the sale of Comet Group Limited by the Kesa group in 2012.

The French retail group is strongly contesting the merits of the High Court's decision and plans to use all available remedies to challenge the decision, including a request to appeal.

Fnac Darty states that it has sufficient liquidity to honour this payment, which is due by the end of this year, and whose amount will have an impact on the result of discontinued operations, but not on the group's current result or free cash flow.

Undeterred by this news, the share price is actually up 0.7% this lunchtime.


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