European Commission Clears Daniel Kretinsky’s Takeover of Fnac Darty

The European Commission has approved the proposed acquisition of Fnac Darty by Czech billionaire Daniel Kretinsky, paving the way for a majority takeover of the French retailer specializing in electronics, home appliances, and cultural products. Announced by Fnac Darty on October 20, 2026, this authorization removes the last identified regulatory hurdle before the offer’s closure, which is expected in early November.

Offer Details and Shareholder Approval

Already the group’s largest shareholder with a 28.5% stake, Daniel Kretinsky aims to surpass the 50% threshold to gain full control. His public tender offer (PTO), led by EP Group, targets the remaining outstanding shares and convertible bonds.

Share Price: €35 per share, following the payment of a €1 dividend per share on June 5, 2026.
Convertible Bond Price: €81.16 per bond.

Fnac Darty’s board of directors has issued a favorable opinion on the transaction. Additionally, an independent expert has assessed that the financial terms are fair to both shareholders and the affected bondholders.

Fnac Darty: A Major European Retailer

Built on a robust network of physical stores and a strong online presence, Fnac Darty remains a key player in European distribution. The group operates in 15 countries, employs nearly 30,000 people, and manages approximately 1,500 stores. Its revenue exceeded €10 billion in 2025. Looking ahead to 2030, the company’s strategy focuses on omnichannel commerce, services, and the circular economy.

Strategic Implications

For Daniel Kretinsky, this acquisition would significantly strengthen his position in the French retail sector, where he also owns the Casino Group, parent company of Cdiscount. For Fnac Darty, the primary change would be the transition from a reference shareholder to a majority shareholder, subject to the finalization of the offer.

The offer’s closure is anticipated for early November 2026, with the definitive schedule to be communicated by the French Financial Markets Authority (AMF).