Czech Billionaire Daniel Kretinsky Makes a Move on Fnac Darty
Czech billionaire Daniel Kretinsky is no longer hiding his ambitions for Fnac Darty. On Monday, the European distribution leader officially announced, via a press release, that it had received a public takeover bid (OPA) from EP Group, Kretinsky's holding company.
A Generous Offer to Win Over Shareholders
The offer, filed on Friday evening, proposes €36 per share (including the 2026 dividend). For investors, the calculation is straightforward: it's a 19% premium over the last stock market price. This proposal catapults Fnac Darty into a new dimension: that of companies valued at over €1 billion. The message seems to have been well-received, as the board of directors has already given its unanimous approval.
Why Now?
Daniel Kretinsky is no stranger to the company. Through his subsidiary Vesa Equity, he is already the largest shareholder with 28.5% of the capital. His goal now is to exceed the 50% threshold to ensure full control of the company.
A Broad Target
The offer is addressed to both ordinary shareholders and holders of convertible bonds (OCEANEs) at €81.09 per unit.
No Delisting from the Stock Exchange
Notably, EP Group has specified that it does not intend to delist Fnac Darty from the stock exchange. The company will therefore remain public, a "friendly" strategy aimed at reassuring the markets and the AMF (French Financial Markets Authority).
A Changing European Landscape
With over 1,500 stores and €10 billion in revenue, Fnac Darty is a key player in European consumption. However, the group is at the center of attention: Chinese giant JD.com is also preparing to enter the capital by buying out the shares of German company Ceconomy.
A Strategic Move for Kretinsky
For Kretinsky, this acceleration is a strategic move. By consolidating his position, he establishes himself as the dominant figure in European retail, facing increasingly fierce global competition.
