Fnac Darty: offer document filed for Unieuro
(CercleFinance.com) - Fnac Darty announced last night that it and its partner Ruby had filed their offer document for Unieuro with Consob, the Italian stock exchange authority.
In a financial notice, the French retailer specifies that the offer concerns all of the approximately 19.8 million ordinary shares of Unieuro not already held, including treasury shares.
Two weeks ago, the Group announced its intention to make an offer for Unieuro, Italy's leading distributor of electronics and household appliances, with a 17% market share.
Unieuro - which posted sales of E2.6bn last year - has a network of 523 stores, with a strong presence in the north of the country.
Fnac Darty plans to launch a mixed cash (75%) and stock (25%) takeover bid in conjunction with Ruby Investment, a holding company owned by Czech billionaire Daniel Kretinsky, already a 29.9% shareholder in Fnac Darty.
The offer should value each Unieuro share at E12, i.e. a premium of 34% on the average share price over the last three months, for a total consideration of E249m.
Fnac Darty's share price was up 0.5% in early trading on Tuesday, but has fallen by more than 8% over the last month. However, YTD it is up around 1%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
In a financial notice, the French retailer specifies that the offer concerns all of the approximately 19.8 million ordinary shares of Unieuro not already held, including treasury shares.
Two weeks ago, the Group announced its intention to make an offer for Unieuro, Italy's leading distributor of electronics and household appliances, with a 17% market share.
Unieuro - which posted sales of E2.6bn last year - has a network of 523 stores, with a strong presence in the north of the country.
Fnac Darty plans to launch a mixed cash (75%) and stock (25%) takeover bid in conjunction with Ruby Investment, a holding company owned by Czech billionaire Daniel Kretinsky, already a 29.9% shareholder in Fnac Darty.
The offer should value each Unieuro share at E12, i.e. a premium of 34% on the average share price over the last three months, for a total consideration of E249m.
Fnac Darty's share price was up 0.5% in early trading on Tuesday, but has fallen by more than 8% over the last month. However, YTD it is up around 1%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.