Fnac Darty Opens Tender Offer Period for Unieuro Shares
Fnac Darty Announces Tender Offer for Unieuro
Fnac Darty SA and RUBY Equity Investment S.à.r.l. have shared important news regarding their strategic plans. They have released the Issuer Statement, which includes insights from financial advisors, Equita SIM SpA and Mediobanca Banca di Credito Finanzario SpA, highlighting fairness opinions that support the offer's viability and benefits.
Details of the Offer
The tender offer for Unieuro shares has a valuable consideration of €9 in cash plus 0.1 Fnac Darty share for each share of Unieuro. This proposal amounts to a remarkable 42% premium over the average price of Unieuro shares leading up to July 15, 2024, making it an enticing opportunity for current shareholders. The agreement illustrates a significant strategic move to create a European leader in the specialized retail sector, aimed at benefiting all those involved with Unieuro.
Timeline for the Tender Offer
The official tender period, as sanctioned by Borsa Italiana S.p.A, is set to span 40 trading days. It starts at 8:30 a.m. (Italian time) on September 2, 2024, and concludes at 5:30 p.m. (Italian time) on October 25, 2024, including both the opening and closing dates. It's important to note that this timeframe may be extended based on regulatory conditions.
Legal Synopsis and Company Information
The offer will be carried out solely within Italy and aims to ensure equal treatment for all Unieuro shareholders. All pertinent information regarding this offer can be found in the Offer Document, which will be disclosed following regulatory standards.
Fnac Darty operates as a major player in the retail landscape across 13 countries. The company specializes in entertainment and leisure products, consumer electronics, and home appliances. Employing nearly 25,000 people, they maintain a multi-format network with over 1,000 locations as of late December 2023. An online powerhouse, Fnac Darty attracts more than 27 million unique visitors monthly across its e-commerce websites, including fnac.com and darty.com. The company achieved impressive revenues of around €8 billion in 2023, with 22% generated through online sales, showcasing its capability as a leading omnichannel retailer.
Contact Information
For analysts and investors wanting to know more, they can reach out to Domitille Vielle, the Head of Investor Relations at Fnac Darty via email at domitille.vielle@fnacdarty.com or contact her directly at +33 (0)6 03 86 05 02. Laura Parisot, the Investor Relations Manager, is also available at laura.parisot@fnacdarty.com with her contact number +33 (0)6 64 74 27 18.
For media inquiries, Audrey Bouchard, the Head of Media Relations and Reputation, can be contacted at audrey.bouchard@fnacdarty.com or by calling +33 (0)6 17 25 03 77.
Frequently Asked Questions
What is the purpose of the tender offer?
The tender offer aims to acquire shares of Unieuro as part of Fnac Darty's strategic move to enhance its position in the European retail market.
Who are the financial advisors for the offer?
The financial advisors assisting with the offer include Equita SIM SpA and Mediobanca Banca di Credito Finanzario SpA.
What is the premium offered for Unieuro shares?
shareholders will receive a total of €9 in cash plus 0.1 Fnac Darty share, representing an attractive 42% premium based on previous share values.
When does the tender offer period begin and end?
The offer begins on September 2, 2024, and concludes on October 25, 2024, with a potential for extensions as necessary.
How can shareholders participate in the tender offer?
Shareholders of Unieuro can participate by following the instructions provided in the Offer Document, which will include necessary steps and conditions for participation.
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