Artémis has entered into an agreement for the sale to Ceconomy of its 6,451,845 ordinary shares corresponding to a stake of approx. 24.33% as of 30 June 2017, in the share capital of Fnac Darty.
After being supported by Artémis since its initial public offering in 2013, Fnac Darty's management team will benefit from Ceconomy's support as its reference shareholder to continue deploying its strategy.
The closing of the transaction, which is, in particular, subject to regulatory conditions, is currently expected to occur by the end of August 2017.
Ceconomy will have the possibility to propose to the Board of Directors of Fnac Darty the appointment of three directors.
Jacques Veyrat, Chairman of the Board of Fnac Darty: “On behalf of all of the Fnac Darty staff, I would like to thank the Pinault family for their unwavering support to our brands, and especially to Fnac for many years. Without them, our Group would not be what it has become today. I also welcome the arrival of our new shareholder Ceconomy , who will be a reinforcement for the development of our Group.”
Enrique Martinez, Chief Executive Officer of Fnac Darty: “At a time when Fnac Darty has laid the foundations for its new Group, with solid governance in place, and rapidly progressing results and integration, we welcome the arrival of Ceconomy – a new shareholder willing to support and accompany the strategy set out by our Group and the teams who execute it.”
