Fnac Darty and Ruby Complete Unieuro Acquisition Process

Fnac Darty and Ruby's Strategic Move on Unieuro

Fnac Darty and Ruby have successfully finished their acquisition journey of Unieuro, having reached a significant milestone by securing 91.15% of the share capital. This accomplishment highlights their strategy of consolidating their influence in the European retail market.

Final Results of the Tender Offer

During the recent reopening of the tender period, a notable 19.66% of Unieuro’s shares were put forth by shareholders. This addition to the previous 71.48% already owned by the Offerors confirms their command over Unieuro's share capital at an impressive total of 91.15%. The process was guided by Intesa Sanpaolo S.p.A., which played a pivotal role in coordinating the collection of tenders.

The Payment Process

The payment for this tender offer is scheduled for November 15. Shareholders that tendered their shares will receive a cash portion of €9.00 along with a share portion comprised of newly issued Fnac Darty shares.

Understanding the Obligation to Purchase

Given that Fnac Darty and Ruby now hold more than 90% of Unieuro's capital, they are obligated to purchase the remaining shares. This action is designed to streamline operations and is integral to their expansion strategy.

Future Implications of Delisting

As outlined, once the obligation to purchase is met, all Unieuro shares will be delisted from Euronext STAR Milan, marking a critical transition in the company's operational framework. This delisting signifies not just a regulatory step but a strategic move towards enhancing the Offeror's market position.

Details on the Cash and Share Portions

For each Unieuro share tendered, participating shareholders will receive a combination of cash and Fnac Darty shares. This method not only enriches Fnac Darty’s share base but also goldens the relationship between the two entities.

Management Insights on the Acquisition

Fnac Darty's management has expressed confidence in the strategic benefits this acquisition will yield. As a multi-format retail leader in Europe, this move cements their position in the competitive landscape, especially in sectors focusing on consumer electronics and domestic appliances.

Next Steps for Shareholders

Shareholders of Unieuro still holding their shares are encouraged to consider their options as the dual offerings approach. The outlined processes for securing compensation for shares, along with potential opportunities for joining the expanded Fnac Darty group, stand to benefit them significantly.

The Broader Marketplace Context

In light of the evolving retail landscape, Fnac Darty's proactive approach towards Unieuro showcases a broader trend of consolidation among retail giants aiming to improve market share and operational efficiency. This move aligns with global shifts towards streamlined retail processes, ensuring long-term growth and sustainability for all involved parties.

Frequently Asked Questions

What percentage of Unieuro's share capital did Fnac Darty and Ruby acquire?

They secured 91.15% of Unieuro's share capital through their acquisition efforts.

When is the payment date for shareholders who tendered their shares?

The payment for shares tendered is scheduled for November 15.

What does the obligation to purchase mean for remaining shareholders?

This means that Fnac Darty and Ruby are required to purchase any remaining Unieuro shares from shareholders who request it.

Will Unieuro still be listed after the acquisition?

No, Unieuro will be delisted from Euronext STAR Milan following the fulfillment of the purchase obligations.

How will shareholders be compensated for their shares?

Shareholders will receive a cash portion of €9.00 and newly issued shares of Fnac Darty for each Unieuro share tendered.

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