Fnac Darty: Unieuro passes 95% threshold, withdrawal in sight

(CercleFinance.com) - Fnac Darty has crossed the threshold of 95% of Unieuro's share capital, which will enable it to delist the shares of the Italian electronics and household appliances distributor from the Milan Stock Exchange, the French group announced on Friday.


In a financial notice, Fnac Darty states that it has obtained 373,821 additional shares as part of its public tender offer, which closed on Friday.

Taking into account the shares already held, the group says it now holds almost 95.5% of Unieuro's capital, meaning that the conditions for exercising the squeeze-out right have been met.

The timetable for the delisting should be known by Tuesday December 17 at the latest.

Fnac Darty will now focus on the integration of Unieuro, while management is confident about year-end sales", commented analysts at TP ICAP Midcap.

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