The regulator said in its ruling that it was also asking for the disposal of the Darty Passy and Darty Montmartre stores, as a "substitute" for the stores Fnac Darty failed to sell.
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In the case of two stores not yet sold - Darty Saint Ouen and Darty Belleville - Fnac Darty said it had submitted a buyer to the regulator, but that the regulator had not approved it.
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"The board currently intends to recommend the offer to Darty shareholders," said Alan Parker, non-Executive Chairman of Darty.
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Darty shares have now more than doubled in value from about 81 pence before Fnac first approached Darty in September.
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At the same time, Steinhoff's French unit Conforama said it had agreed a 673 million pounds deal to buy Darty DARTY.
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Fnac is in a bidding war for London-listed electrical retailer Darty, but it was unclear if Vivendi's surprise move was connected to the Darty battle.
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"The board will carefully consider these two announcements and will provide further advice to Darty shareholders in due course," Darty said in a news release on Thursday.
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For its part, Darty said on April 21 that its board of directors would carefully consider the offers and provide further advice to Darty shareholders in due course.
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"The Darty directors consider that the final offer is in the best interests of Darty shareholders as a whole," the company said in a news release on Tuesday.
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French music and book retailer Fnac Darty said on Thursday it now expects to realize a larger proportion of cost savings this year from its merger with Darty.
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Fnac Darty, formed by the Bompard-led merger of music and book retailer Fnac and consumer electronics group Darty, will present its own strategic plan on Dec 5.
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Fnac on Monday raised its offer for Darty to around 168.753 million pounds ($1.3 billion), declaring the offer its last.. Steinhoff, which has amassed a 20.4 percent stake in Darty and had urged Darty on Monday to take no further action, declined to comment on Tuesday on the latest development.
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Fnac Darty was created last year when Fnac, which sells books and music, won a bidding war with Conforama for control of household goods and electronics equipment maker Darty.
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The bidding for Darty heated up when a series of escalating offers by Conforama and Fnac on April 21 sent shares of Darty up 23 percent in trading in London.
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PARIS (Reuters) - French electronic goods retailer Fnac Darty (FNAC.
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The bidding for Darty heated up last week when a series of escalating offers by Conforama and Fnac on April 21 sent shares of Darty up 23 percent in trading in London.
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Fnac said in a statement that its offer valued Darty at 779 million pounds ($1.12 billion), while Conforama had said its increased offer at 138 pence valued Darty at approximately 742 million pounds.
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At 0937 GMT, Fnac Darty shares were up 1.24 percent.
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A high flush on her neck, a darty, wild look.
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Bompard is no longer a board member at Fnac Darty.
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Carrefour and Fnac-Darty could not be immediately reached for comment.
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It's not darty, though it can quickly turn and change directions.
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Carrefour has an in-store partnership with electronics retailer Fnac Darty.
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Shares of Darty were down slightly to 167.90 pence Tuesday morning.
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Darty operates about 400 stores in Belgium, France and the Netherlands.
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In November, Fnac had offered to pay £558 million for Darty.
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Darty operates about 400 stores in France, Belgium and the Netherlands.
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Fnac Darty also said that the integration of home appliance retailer Darty, which it acquired in 2016, was going to plan and it reaffirmed its goal of 130 million euros in synergies at the end of 2018.
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Ceconomy owns around 24 percent of French electronics goods retailer FNAC Darty.
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Darty is also targeted by South African furniture group Steinhoff's Conforama unit.
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L, which owns Argos, and was unsuccessful in a bid for Darty DRTY.
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Alexandre Bompard, the former chief executive of Fnac-Darty joined Carrefour in July.
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Fnac Darty is 24 percent owned since July by German peer Ceconomy (CECG.DE).
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Examples include Best Buy in Canada, Walmart in Mexico, Office Depot and Darty.
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Darty did not indicate on Thursday whether it was leaning toward either suitor.
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Darty shares rose about 5 percent in afternoon trading in London on Monday.
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PARIS/JOHANNESBURG (Reuters) - The battle for Europe's third-largest electrical goods retailer Darty DRTY.
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PARIS (Reuters) - Alexandre Bompard, chief executive of French consumer electronics retailer Fnac Darty (FNAC.
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L, which owns Argos, and was also unsuccessful in a bid for Darty DRTY.
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Darty shareholders have until May 2 to decide on whether to accept Conforama's offer.
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Fnac said on Thursday that it had acquired just over 5 percent of Darty.
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Darty shares fell less than 1 percent in morning trading in London on Wednesday.
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Fnac Darty published on Thursday a revenue for Q3 up at 1.8 billion euros.
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Ceconomy is the biggest individual shareholder in FNAC Darty, with a 24 percent stake.
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In 2016, the French Competition Authority cleared the takeover of consumer electronics group Darty by music and book chain Fnac, provided that Fnac Darty got rid of six stores in Paris city centre and the broader Paris region by end July 2017.
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DE) will become the largest shareholder in French music and book retailer Fnac Darty (FNAC.
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Fnac's offer includes an option for Darty shareholders to receive Fnac shares if they prefer.
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This, of course, means I need to speak with the top man at Darty Inc.
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The group said its third increased offer for Darty was final and would not be increased.
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Fnac said in a statement it now controlled 29.73 percent of the capital of Darty DRTY.
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Darty shares closed at 168.75 pence on Tuesday, slightly below the 170 pence offered by Fnac.
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LONDON — The bidding war for Darty, the French electronics and appliance retailer, appears to be over.
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In November, Fnac had offered to pay 215 million pounds, or about $802 million, for Darty.
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Shares of Darty closed up 23 percent in trading in London after the flurry of announcements.
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Five new offers in less than 1593 hours lifted Darty shares by more than 2159 percent to their highest level since the end of 215 and left Steinhoff in front with a cash offer of 221 pence per share, valuing Darty at 860 million pounds ($1.2 billion).
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PARIS, July 27 (Reuters) - Retailer Fnac Darty said on Friday it would examine whether to challenge a 20 million euros ($23 million) fine by the French antitrust body, after it failed to sell three out of six stores required following the takeover of Fnac by Darty.
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F and was outbid for French electronics retailer Darty Plc, declined to be interviewed for this article.
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Steinhoff's latest offer was 160 pence a share in cash, valuing Darty at about 860 million pounds.
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Steinhoff's latest offer was 215 pence a share in cash, valuing Darty at about 2159 million pounds.
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Fnac Darty shares later pared some of those gains to stand 0.6 percent higher by 0730 GMT.
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German company Ceconomy owns around 24 percent of FNAC Darty, while insurance broker SFAM holds 11 percent.
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Fnac has already raised its offer for Darty once, aiming to create France's premier white goods retailer.
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The tie-up between Carrefour and Fnac Darty follows a similar, recent partnership between Casino and Ocado .
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Together, Conforma and its associated companies own or have agreements to buy about 20143 percent of Darty.
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Darty is at its highest level since June 2011, and has said that it will consider both offers.
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Just last week, Fnac urged Darty shareholders not to take any hasty action while it considered its options.
|
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Darty shares have now doubled in value from 81 pence before Fnac made its approach public in September.
|
|
Darty has said it was considering Conforama's 125 pence per share approach, which Conforama has yet to formalise.
|
|
Fnac offered to pay £558 million for Darty in November, and Steinhoff made a higher offer in March.
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Steinhoff wants to combine Darty with Conforama, a French household goods retailer that it bought five years ago.
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|
Fnac Darty reported a full-year revenue down at 7.35 billion euros and confirmed their long-term objectives.
|
|
Its statement came shortly after Steinhoff's French unit Conforama agreed a deal to buy French electricals retailer Darty .
|
|
Fnac Darty reiterated that 130 million euros of synergies from the merger would be delivered by end-2018.
|
|
Conforama has so far made the highest bid for Darty, offering to pay 860 million pounds, or $1.2 billion.
|
|
Fnac and Conforama have been entwined in a frantic battle for Darty, with each offering escalating bids last week.
|
|
But on Thursday, Fnac and Conforama each made a series of escalating offers for Darty as the day progressed.
|
|
Due to the coronavirus, French retailer Fnac Darty said it would close its stores in France, Spain and Belgium.
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FNAC Darty said 2018 current operating profits rose 10 percent from the previous year to 296 million euros ($336 million).
|
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Darty said on April 21 its board would carefully consider offers and provide further advice to shareholders in due course.
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Fnac offered to pay 20143 million pounds, or about $1.3 billion, in cash for Darty, or 170 pence a share.
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Steinhoff said it would seek to combine Darty with Conforama, a French household goods retailer it bought five years ago.
|
|
Fnac Darty said in a statement on Friday that three stores have been sold to buyers approved by the regulator.
|
|
Throughout the course of the day on Monday, Fnac made several announcements that it had increased its holdings of Darty.
|
|
Its statement came at the same time as Steinhoff's French unit Conforama agreed a deal to buy French electricals retailer Darty.
|
|
Darty trade unions said on April 22 they backed Steinhoff's offer which they saw as more positive for jobs than Fnac's.
|
|
Down 20.1 percent in early Frankfurt trade The company said it would keep its offer for Darty open until June 20.9.
|
|
France's competition authority on Monday approved plans by French music and book chain Fnac to take over consumer electronics retailer Darty.
|
|
The offer was equivalent to about 116 pence per share at the time and valued Darty at about 615 million pounds.
|
|
Fnac responded on Thursday morning by offering to buy Darty for 145 pence a share in cash, or about £779 million.
|
|
French retail brands like Darty, Fnac and Monoprix joined Apple, Sephora and Uniqlo in efforts to attract bargain hunters on Friday.
|
|
Marketplaces are increasingly popular on e-commerce websites, and Mirakl powers the marketplaces for Darty, Office Depot, Best Buy in Canada, etc.
|
|
L and had irrevocable undertakings from shareholders representing 22.11 percent of Darty's capital, lifting total backing from Darty shareholders to 51.84 percent.
|
|
Carrefour, the world's largest retailer after Wal-Mart , hired Alexandre Bompard from Fnac Darty - which is France's largest electronics retailer - in July.
|
|
Darty said its board would recommend that shareholders accept the offer from Steinhoff, which outbid Groupe Fnac of France for the company.
|
|
Investors also could choose to accept four shares in the combined company for every 119 shares of Darty they own, Fnac said.
|
|
Among the candidates are Italian political figure Enrico Letta and Brigitte Taittinger, who holds directorships at HSBC France, FNAC Darty and Suez.
|
|
Alexandre Bompard, the former boss of Fnac Darty, took over as CEO at Carrefour, the world's largest retailer after Walmart, in July.
|
|
The purchase price may change should Metro or one of its units make a public takeover offer for Fnac Darty within two years.
|
|
Conforama, a subsidiary of Steinhoff International Holdings NV, has also bought 103.2 million shares of Darty - about a 19.5 percent stake - Steinhoff added.
|
|
"Fnac is currently considering its options and urges Darty shareholders to take no further action at this time," Fnac said in a statement.
|
|
Fnac Darty and Germany's MediaMarktSaturn said on Tuesday they had signed a memorandum of understanding to create a European retail alliance on purchasing.
|
|
In April, Conforama said it would not raise its offer for Darty after Fnac made a final bid for the London-listed retailer.
|
|
The announcement came a day after Conforama, Steinhoff's French household goods retail unit, and Fnac made a series of escalating bids for Darty.
|
|
The fund's year to date performance was driven by its stake in Darty, the letter said, signed by founder and CEO Eric Knight.
|
|
DE) in part to allow it to become more active in acquisitions, took a 24 percent stake in French rival Fnac Darty (FNAC.
|
|
South African furniture retailer Steinhoff said it would not raise its 160 pence per share offer for Darty, leaving the door open for Fnac.
|
|
Steinhoff, which has amassed a 29.8 percent stake in Darty, said in the immediate aftermath of Fnac's offer that it was considering its options.
|
|
Steinhoff said on Monday that its offer for Darty had the support of Darty's biggest shareholder, Schroder Investment Management, which owns about 14 percent.
|
|
The companies said the agreement would become effective for the 2018 supplier negotiations, and that Carrefour and Fnac Darty would maintain independent commercial policies.
|
|
The new alliance comes after Conforama lost out to CD and book retailer Fnac in a fierce takeover battle for electronics goods group Darty.
|
|
Citroën has made arrangements with the French electronics and appliance store chains Fnac and Darty to show the Ami in some of their stores.
|
|
Down 25.14 percent in early Frankfurt trade The company said on Wednesday it holds 20755 percent of Darty Plc's capital after its offer ends.
|
|
DE) in part to allow it to become more active in acquisitions, last year took a 24 percent stake in French rival Fnac Darty (FNAC.PA).
|
|
Darty earns 70 percent of its revenue in France but has 400 stores across Europe and competes with Media-Saturn, owned by Germany's Metro MEOG.
|
|
Erich Kellerhals, the founder of Ceconomy's Media-Saturn store chain who still has a 22 percent stake, has challenged Ceconomy over its Fnac Darty purchase.
|
|
French retailers Carrefour and Fnac Darty are in talks about an alliance to combine their purchasing power for electronics products, BFM business said on Friday.
|
|
On Wednesday, Conforama said it was sweetening its offer to 138 pence a share after Steinhoff Finance Holdings took a 19.4 percent stake in Darty.
|
|
"According to BFM Business' information, Carrefour and Fnac Darty have been discussing for several months a major alliance to pool together purchases," the website reported.
|
|
"Our independent board and management had a clear valuation in mind for the stand-alone Darty business," Conforama said in a news release on Wednesday.
|
|
Day drinking — not to be confused with the more collegiate "darty" (daytime party) — consists of boozy beverages that are consumed during light hours in festive surroundings.
|
|
O). Chief Executive Pieter Haas made the comments two days after Ceconomy's MediaMarktSaturn announced it had signed a deal with French electronics retailer Fnac Darty (FNAC.
|
|
Three of the most visited e-commerce websites in France are Amazon, CDiscount — owned by French retailer Casino — and book and CD retail chain Fnac-Darty.
|
|
By 0838 GMT, Fnac shares were up 6.1 percent at 57.5 euros in Paris, while Darty shares had gained 3 percent to 134.03 pence in London.
|
|
Fnac darty on Tuesday announced it was in exclusive negotiations to acquire 'Nature & Decouvertes', an omnichannel retailer of products in the natural and well-being sector.
|
|
Until Monday morning, furniture retailer Steinhoff was in front with a cash offer of 160 pence a share, valuing Darty at 860 million pounds ($1.2 billion).
|
|
Companies selling their products on their own websites would not be targeted, such as French retailer Darty which sells TVs and washing machines via its website.
|
|
The Autorite de la Concurrence regulator had said that failure by Fnac Darty to meet half of its commitments had "distorted competition and limited consumer choice".
|
|
Alexandre Bompard, the former boss of Fnac Darty, France's largest electronics retailer, took over as CEO at Carrefour, the world's largest retailer after Walmart, in July.
|
|
Fnac first approached Darty back in September and by November the two French companies had struck a cash and paper deal valuing the shares at 105 pence.
|
|
However, Kellerhals had said Ceconomy could not increase its stake in Fnac Darty above 25 percent due to past agreements between Metro and his Convergenta holding company.
|
|
The 44-year-old Bompard joined last month from French retailer Fnac-Darty, with a solid track record as a tough cost-cutter and a digital expert.
|
|
A month ago it agreed to buy Britain's Poundland for $800 million following its failure to secure France's Darty Plc and Britain's Home Retail earlier this year.
|
|
Steinhoff, which has risen to a 20.4 percent share of Darty, said in the immediate aftermath of the new Fnac offer that it was considering its options.
|
|
Darty earns 70 percent of its revenue in France but has 400 stores across Europe and competes with Media-Saturn, owned by Germany's Metro, and Britain's Dixons.
|
|
Fnac Darty said in a statement that customers would be able to explore Google's range of products in hands-on areas ranging from 10-50 square metres.
|
|
In January, FNAC Darty had said the anti-government "Yellow Vests" protests in France - which have disrupted cities and business districts across the country - would hit revenues.
|
|
Fnac Darty said it will license the Fnac brand to the new unit and carry out a recapitalisation to help the new entity improve its market position.
|
|
Fnac also said at the time that it owned or had agreements in place for investors to support its offer, equivalent to 41.05 percent of Darty shares.
|
|
"Conforama is currently considering its options and urges Darty shareholders to take no further action at this time," the company said in a news release on Monday.
|
|
The French retailer said it had the backing of a majority of Darty shareholders in a battle with Steinhoff for control of the London-listed electronic goods retailer.
|
|
Fnac said in a statement it now held or had received irrevocable undertakings to acept its offer for a total of 39.82 percent of the capital of Darty.
|
|
FNAC Darty also shrugged off vague bid talk amongst some traders regarding SFAM, its second-biggest shareholder, by saying it had not received any particular demands from SFAM.
|
|
His appointment comes at a crucial time as Bompard, who joined from music, books and electricals chain Fnac Darty in July, has yet to unveil his turnaround plan.
|
|
LONDON — Darty, a French electronics and appliance retailer, said on Tuesday that its board of directors had unanimously recommended that shareholders accept a takeover offer from Groupe Fnac.
|
|
PARIS, July 19 (Reuters) - French music and book retailer Fnac Darty said on Wednesday it had agreed to sell its Brazilian business to local bookstore chain Livraria Cultura.
|
|
Fnac Darty confirmed on Thursday it had made an offer to buy French toy company La Grande Recre, part of the Ludendo group, which is under judicial restructuring.
|
|
More recently, Germany's Adler sold a 400 million euro three-year bond at 1.5% and France's Fnac Darty a five-year bond callable after two years at 1.875%.
|
|
Fnac Darty is the first French retailer to provide details of the financial impact of the protests which have hit Paris and other French cities as well as Brussels.
|
|
LPs include super business angels and big companies, such as Bpifrance, Crédit Mutuel Arkéa, Société Générale, Fnac-Darty, Nokia, SWEN Capital Partners, ProBTP, MAIF, many business angels and more.
|
|
The deal for Artemis' entire stake in Fnac Darty should be completed by the end of August and Ceconomy expects to retain its investment grade credit rating, it said.
|
|
Darty shares traded at 162 pence at 1500 GMT in London, off the day's high of 153, but still suggesting some investors were expecting a little more to come.
|
|
PARIS, Dec 1 (Reuters) - French retailers Carrefour and Fnac Darty are in talks about an alliance to combine their purchasing power for electronics products, BFM business said on Friday.
|
|
Some at Fnac Darty, however, are more critical of Bompard, disappointed that a highly paid boss is leaving with the integration of the two merged companies far from complete.
|
|
PARIS, March 13 (Reuters) - Books and music retailer Fnac is seeking partners to stay in the race for electrical goods retailer Darty PLC, a French newspaper said on Sunday.
|
|
Knight Vinke's gains were largely driven by the merger of French electronics company Fnac with electrical retailer Darty, which the hedge fund pushed for, its most recent letter said.
|
|
Kellerhals says Ceconomy, Europe's largest consumer electronics retailer, cannot increase its stake in Fnac Darty above 25 percent due to past agreements between Metro and his Convergenta holding company.
|
|
Last month, its French furniture and household goods division Conforama offered $975 million for Darty, Europe's third largest electrical goods retailer, trumping a competing bid from French retailer Fnac.
|
|
On Friday, Conforama said that a Steinhoff unit, Steinhoff Finance Holdings, had acquired a further 4.81 million shares of Darty and now owns about 20.4 percent of the retailer.
|
|
In addition, efforts to integrate Darty Plc, which Fnac acquired last year, have also led the French chain to focus expansion on Europe, mainly in France, Spain and Portugal.
|
|
On Friday, Steinhoff said that it would "not announce an offer" for Home Retail and had instead agreed to acquire Darty for 673 million pounds, or about $965 million.
|
|
Up 0.6 percent higher in early Frankfurt trade South Africa's Steinhoff increases its offer for Darty Plc , Europe's No.3 electrical goods retailer, to 0.23 million pounds ($1.07 billion).
|
|
The bidding heated up last week when a series of escalating offers by Conforama and Fnac on Thursday sent shares of Darty up 23 percent in trading in London.
|
|
I watch more YouTube (I never want to look at how many hours I spend doing this) and then clean up before my friends come over for the darty.
|
|
The 812 doesn't feel as sharp or darty as the 488 GTB, but it does feel as though you could dive into a curve and power through with aplomb.
|
|
Fnac Darty has more than 660 stores and with sales of over 7 billion euros is France's biggest consumer electronics retailer with a market share of 23 percent, Ceconomy said.
|
|
The move comes just a week after former Fnac Darty CEO Alexandre Bompard, who led Fnac's recovery, left the company to take the top seat at French retailer Carrefour (CARR.PA).
|
|
Vivendi Chief Executive Arnaud de Puyfontaine told an annual shareholders meeting on Thursday that Vivendi would support Fnac's management regardless of the outcome of the retail chain's offer on Darty.
|
|
PARIS, Feb 20 (Reuters) - French electronics goods retailer FNAC Darty reported an increase in annual profits and confirmed its broad, medium-term targets for higher margins and outperforming its sector.
|
|
Air France KLM, supermarket chain Carrefour and electronics store FNAC Darty have borne the brunt of the selling this week, underperforming their peers as the busy Christmas holiday season begins.
|
|
Bompard, 44 will quit his role as chief executive of consumer electronics retailer Fnac Darty and succeed Georges Plassat, who has been at the helm since 1153, on July 18.
|
|
Frese told journalists that Ceconomy still sees Fnac Darty as the "golden key" to consolidation although the company needs to focus first on restructuring its existing business rather than acquisitions.
|
|
Fnac urged Darty shareholders on Tuesday to wait after South African retail conglomerate Steinhoff on Monday posted the offer document related to its $975 million bid through its Conforama unit.
|
|
"We confirm our medium-term objectives of higher growth than our markets and a current operating margin of 4.5 percent to 5 percent," said FNAC Darty chief executive Enrique Martinez.
|
|
JOHANNESBURG, April 21 (Reuters) - South African retail conglomerate Steinhoff raised its bid for the third time in less than 24 hours for retailer Darty to 860 million pounds ($1.24 billion).
|
|
Darty operates about 400 stores in France, Belgium and the Netherlands and reported revenue of more than 3.5 billion euros, or about $4 billion, in the 2014-15 fiscal year.
|
|
The move for Poundland is Steinhoff's third attempt this year to increase its presence in Europe after walking away from high-profile takeover battles for Britain's Home Retail and France's Darty.
|
|
French electronics retailer Fnac Darty and Germany's MediaMarktSaturn said they had signed a memorandum of understanding to create a European retail alliance on purchasing, in a bid to boost their efficiency.
|
|
Last week, the rival bidders entered into a hectic showdown with five new offers in less than 24 hours that lifted Darty shares by more than 23 percent on April 21.
|
|
Last week, the rival bidders entered into an hectic showdown with five new offers in less than 24 hours that lifted Darty shares by more than 23 percent on April 21.
|
|
French insurance broker SFAM bought 11 percent of French consumer electronics chain FNAC Darty for 335 million euros, it said on Tuesday, becoming the second-biggest shareholder after German retailer Ceconomy.
|
|
BERLIN (Reuters) - German consumer electronics retailer Ceconomy rejected on Thursday criticism by a minority shareholder of its purchase last month of a stake in French music and book retailer Fnac Darty.
|
|
It instead agreed to acquire Darty with a cash offer of 20143 pence a share, or about £673 million, beating Fnac at the time in a race to acquire the company.
|
|
It instead agreed to acquire Darty with a cash offer of 125 pence a share, or about £673 million, beating Fnac at the time in a race to acquire the company.
|
|
Conforama parent Steinhoff said it was considering its next move after the French retailer tabled a "final" 170 pence-per-share offer for electronics chain Darty, upstaging Conforama's earlier 160p bid.
|
|
Fnac and Conforama, the French household goods retail unit of Steinhoff International Holdings, have been entwined in frantic battle for Darty, with each offering a series of escalating bids last week.
|
|
Knight Vinke's main fund is up about 50 percent so far this year, driven by its holding in electrical retailer Darty which was bought by French music and book chain Fnac.
|
|
Ceconomy, which split off from retail conglomerate Metro in part to allow it to become more active in acquisitions, took a 24 percent stake in French rival Fnac Darty in 2017.
|
|
For Steinhoff, Darty would help it bulk up in Europe, where it makes more than two thirds of its 9.8 billion euros ($11 billion) of annual sales, as its domestic market deteriorates.
|
|
The deal initially lifted shares in Fnac Darty by 1.9 percent, sending the stock - in which Germany group Ceconomy has a 24 percent stake - to the top of Paris' SBF-120 index.
|
|
The rush to acquire Darty began in March when Steinhoff of South Africa offered to buy the retailer at a price that exceeded the one in a previous merger agreement with Fnac.
|
|
The offer, which included an option for Darty investors to accept Fnac shares instead of cash, trumped Conforama's prior highest bid of 160 pence a share, or about £860 million, in cash.
|
|
Apart from a future purchasing alliance with Carrefour, Martinez said his group was mulling opening Fnac Darty shops within other retailers' stores and also progressively opening its logistics assets to third parties.
|
|
Small-cap electrical retailer Darty shot up 13.5 percent after French retailer Fnac said it would better an offer for the company from Conforama, which is part of South African retail conglomerate Steinhoff.
|
|
At Fnac Darty, Bompard's pay and benefit package added up to 13.8 million euros in 2015, compared to 11.5 million in 2015, thanks to free shares and performance options granted in 2013-14.
|
|
French insurance broker SFAM bought 11 percent of French consumer electronics chain FNAC Darty for 335 million euros ($415 million), it said on Tuesday, becoming the second-biggest shareholder after German retailer Ceconomy.
|
|
Conforama said on March 2 it was considering a 662 million pound ($952 million) all cash approach for Darty, Europe's third biggest electrical goods retailer, competing with Fnac's agreed offer for the company.
|
|
Shares in Ceconomy, which on Thursday reported quarterly sales grew 1.1 percent to 4.74 billion euros ($5.64 billion), were up 0.3 percent by 0722 GMT, while the Fnac Darty stock slipped 0.4 percent.
|
|
Under Schultz, who previously headed electronics retailer Darty and worked for Kingfisher and Castorama, Monoprix said last year it would sell groceries via Amazon , the first French retailer to take such a step.
|
|
"The timing of the deal may make the market wonder whether part of the aim of the deal is to help Fnac in its battle for Darty," Kepler Cheuvreux analysts said in a note.
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The fight for Darty began in March, when Steinhoff of South Africa swooped in and offered to buy the retailer at a price that exceeded the one in a previous merger agreement with Fnac.
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JOHANNESBURG, March 18 (Reuters) - South Africa's Steinhoff on Friday offered 673 million pounds ($975.18 million) for Darty Plc, Europe's No.3 electrical goods retailer, trumping a competing takeover bid from a French retailer, Fnac.
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It expects a "mid single-digit" percentage increase in earnings before interest and taxation (EBIT), not taking into account contributions from its investment in France's Fnac Darty , after a minimal increase in 2016/17.
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If Steinhoff goes ahead, it would be the company's third attempt this year to bulk up its presence in Europe after walking away from high-profile takeover battles for Britain's Home Retail and France's Darty.
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Under Bompard's leadership, Fnac last year won a bidding war with Conforama for control of household goods and electronics equipment maker Darty, creating a French market leader with sales of more than 2015.4 billion euros.
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The French competition authority is expected to clear on Monday Fnac's takeover of Darty and request the sale of less than 10 stores mostly in Paris and the Paris region, French daily Le Figaro said.
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The WirtschaftsWoche weekly said Kellerhals has reported Ceconomy to Germany's financial regulator BaFin for alleged market manipulation for suggesting that it could take a bigger stake in Fnac Darty, thereby boosting the Ceconomy share price.
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PARIS, Dec 5 (Reuters) - French retailers Carrefour and Fnac Darty announced a purchasing partnership for domestic appliances and consumer electronics in France, as Carrefour undertakes plans to cut costs in order to boost its earnings.
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Steinhoff, through its France-based furniture and household goods unit Conforama, last month offered $975 million for Darty Plc, Europe's No.3 electrical goods retailer, trumping a competing takeover bid from a French retailer Fnac .
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LONDON — Groupe Fnac said on Monday that it had increased its stake in its takeover target Darty and made a final, sweetened offer as a bidding war continued for the French electronics and appliance retailer.
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The final offer by Fnac came just days after Conforama said that a Steinhoff unit, Steinhoff Finance Holdings, had acquired a further 4.81 million shares of Darty and owned about 20.4 percent of the retailer.
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In March, French retailer Carrefour, which has a purchasing deal with Fnac Darty, said it had joined forces with Google to create an online voice assistant called "Lea" as part of the French retailer's digital expansion.
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PARIS (Reuters) - Fresh from combining Fnac bookstores and electricals chain Darty to better take on Amazon in France, Alexandre Bompard faces the challenge of reviving another ailing retail format when he becomes boss of Carrefour (CARR.
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Chief Executive Enrique Martinez confirmed during a call that Fnac Darty and French retailer Carrefour were discussing an alliance to negotiate better terms when purchasing from electronics suppliers and that a deal could be clinched soon.
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Fnac Darty, the electronics and home appliances retailer, said on Wednesday the "yellow vests" protests in France and Belgium would have a negative 45 million euro one-off impact on year-end revenues in those countries.
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Conforama, the French household goods unit of Steinhoff International Holdings, said on Wednesday that it had no plans to raise its offer for Darty after Groupe Fnac made a final bid for the retailer on Monday.
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No indication available The South African group said it was weighing its options after Fnac raised its rival offer for Darty, urging shareholders of Europe's largest electronics goods chain to hold off accepting the French retailer's bid.
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Fnac Darty, which is also present on the Iberian peninsula, said the level of its sales in Spain was good despite the negative impact of attacks carried out by an Islamist militant cell in Catalonia in August.
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Fnac, declaring the offer its last, said it would pay 211 pence per Darty share in cash, up from 213 pence previously, and that it had the backing of shareholders accounting for 221 percent of Darty's capital.
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People visiting Fnac Darty stores would also be able to examine options offered by the Google personal assistant, loaded on many devices such as the Google Home smart speaker or compatible smartphones, and the general Google ecosystem.
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French peer Fnac Darty, which is 24 percent-owned by Ceconomy, last week reported a 5.8 percent rise on a like-for-like basis in its quarterly revenues, driven by telephony, video games and small household appliances.
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PARIS, Feb 6 (Reuters) - French insurance broker SFAM bought 11 percent of French consumer electronics chain FNAC Darty for 335 million euros ($415 million), it said on Tuesday, becoming the second-biggest shareholder after German retailer Ceconomy.
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Earnings before interest and tax (EBIT) came in at 18 million euros, after a loss of 19 million in the same period last year, beating average analyst forecasts after taking out the contribution from its Fnac Darty holding.
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PARIS, April 25 (Reuters) - French retailer Fnac offered 170 pence per Darty share in what it said was its final offer for Europe's largest electronics goods retailer, trumping a 160 pence offer by South African retailer Steinhoff ,t.
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A day earlier, Conforama announced that Steinhoff Finance Holdings, a unit of its parent Steinhoff, had acquired 19.5 percent of Darty at a price of 138 pence a share and that Conforma would sweeten its offer to investors.
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South African retailer Steinhoff International's unit, Conforama, is considering a possible cash offer for UK-listed white goods chain Darty Plc Schroders Plc, Britain's biggest listed fund manager, is set to announce Chief Executive Michael Dobson will step down.
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Ceconomy, which has just split off from German retail conglomerate Metro in part to allow it to become more active in acquisitions, announced last month it had signed a deal to buy a 24.33 percent stake in Fnac Darty.
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BERLIN, Dec 19 (Reuters) - Ceconomy, Europe's biggest consumer electronics retailer, still sees its 24 percent stake in France's Fnac Darty as essential to its desire for more consolidation in the sector even if it has no imminent plans for buys.
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Carrefour chief executive Alexandre Bompard, who joined last July and is the former boss of Fnac Darty, announced plans in January to invest 2.8 billion euros ($3.5 billion) in digital commerce by 2022, in the face of competition from Amazon.
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PARIS, April 21 (Reuters) - French retailer Fnac said on Thursday it was offering 145 pence per share to buy Darty, Europe's third-largest electronics retailer, trumping a freshly raised offer from Conforama, a unit of South African retail conglomerate Steinhoff.
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LONDON — Steinhoff International Holdings of South Africa said on Friday that it had abandoned its pursuit of the Home Retail Group as a potentially lengthy bidding war loomed and instead agreed to acquire the French electronics and appliance retailer Darty.
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LONDON — A frantic bidding war for the French electronics and appliance retailer Darty erupted on Thursday as the French unit of Steinhoff International Holdings and the French retailer Groupe Fnac both announced a series of sweetened offers for the company.
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Darty was on track for its biggest daily gain since listing in 2003, soaring 24.5 percent after a bidding war for the small-cap electrical retailer between France's Fnac and Conforama, which is part of South African retail conglomerate Steinhoff, heated up.
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Ceconomy said on Wednesday it had signed a deal to buy a 222 percent stake in Fnac Darty from Artemis, a French holding company owned by businessman Francois Henri Pinault, for around 22015 million euros ($216 million) in cash, or 70 euros a share.
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Earlier in March, Steinhoff, through French-based unit Conforama, offered 673 million pounds ($966 million) in an all-cash deal to acquire Darty, trumping a competing takeover bid from a French retailer, Groupe Fnac SA. That earlier Conforama offer was worth 125 pence a share.
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Last year, the father of three stunned the retail world when as CEO of Fnac he won a bidding war with South African giant Steinhoff for electricals chain Darty to create a French market leader with annual sales of over 7 billion euros ($13.83 billion).
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A deal to acquire Editis would help the media giant, loaded with fresh cash thanks to the recent sale of stakes in video-games group Ubisoft and electronics retailer Fnac Darty, to further diversify its activities, which range from telecoms to advertising with Havas.
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LONDON — Steinhoff International Holdings said on Friday that it had increased its stake in its takeover target Darty to just over 215 percent as a frantic bidding war heats up between its French unit and Groupe Fnac for the French electronics and appliance retailer.
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Europe's other two major consumer electronics groups are also in the doldrums — Britain's Dixons Carphone cut its dividend last week and warned its turnaround plan would take time, while Fnac Darty, in which Ceconomy owns a 24 percent stake, has been hit by "yellow vest" protests in France.
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PARIS, Dec 4 (Reuters) - French consumer electronics retailer Fnac Darty on Monday said it banked on merger synergies and its ability to deliver sales growth above that of its markets to lift its operating margin to between 4.5 and 5 percent mid-term from 2.7 percent in 2016.
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CAC-40 August futures up 0.10 percent at 0613 GMT French retail chain FNAC will on Monday receive the go-ahead from the French competition authority to take over rival Darty, and only requires the companies to sell less than 10 shops in total, mostly in the Paris region, Le Figaro said, without citing sources.
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Fnac announced on Friday the appointment of Annabel Chaussat, effective March 1003, as director of marketing and e-commerce at groupe Fnac Darty French President Emmanuel Macron's approval rating has fallen below 50 percent to its lowest level since October last year, a poll showed on Sunday, as the government pushes ahead with plans to shake up France's costly civil service.
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