Fnac Darty Falls Under Daniel Kretinsky’s Control With 69.3% of Capital

The Autorité des marchés financiers (AMF, France's financial markets regulator) confirmed it on Tuesday, November 10: the takeover bid launched by Czech billionaire Daniel Kretinsky on Fnac Darty has succeeded. His holding company EP Group now holds 69.3% of the capital of the French retailer, after the operation closed on Monday, November 9. That comfortably clears the 50% threshold that confers control of the group—without changing everything overnight.

What just happened

The deal had been in the works for several months and had already received the green light from competition authorities in Brussels. With 69.3% of shares tendered to the offer, EP Group becomes the overwhelmingly dominant shareholder of Fnac Darty, which also owns the publishing house Editis. The price offered to shareholders was 35 euros per share.

A window still open for shareholders

Not all shareholders sold their shares during the first deadline. The AMF has therefore reopened the offer: holders who haven't yet responded can do so from November 12 to 25, under the same financial terms (35 euros per share). This extension is a standard procedure following a compliant takeover bid; it allows those who hesitated to join the operation without being forced to.

What changes, and what doesn't, for the stores

First important point: Fnac Darty remains listed on the Paris Stock Exchange. EP Group has not announced any plan to delist the company, unlike what sometimes happens after a majority takeover. For customers and employees alike, the change in capital control does not, by itself, translate into a change of brand, product range, or pricing policy: Fnac and Darty stores continue to operate with the same teams and the same services.

What the operation could influence over the longer term, however, are the group's investment and organizational choices—though no store closures or workforce restructuring have been announced at this stage. It is precisely this climate of uncertainty, more than the financial transaction itself, that worries some employees and industry observers.

Why such interest in French retail

For Daniel Kretinsky, already present in energy, media, and publishing in France through Czech Media Invest and Editis, Fnac Darty rounds out a disparate set of French assets. The specialty retail sector faces, like the rest of commerce, pressure on margins and increasingly tight investment decisions—a context also found in the record level of corporate failures in France this year. Household purchasing power, meanwhile, remains constrained by the new rules on consumer credit, a factor that any shareholder of a mass-market retailer must now factor into its projections.

More broadly, this deal also illustrates how financing for French companies is tightening in the face of international players with substantial capital, who can take advantage of stock valuations deemed attractive to take positions in listed companies.

Frequently Asked Questions

Will Fnac Darty leave the Paris Stock Exchange?

Not at this stage: EP Group has not announced any plan to delist the stock, and shares continue to trade normally.

Will prices rise at Fnac and Darty stores?

No such announcement has been made. A change in the main shareholder does not automatically translate into a change in prices.

What can shareholders who haven't yet sold their shares do?

They have a new window, from November 12 to 25, 2026, to tender their shares to the offer at the same price of 35 euros per share.

Sources

• Fnac Darty takeover bid: Daniel Kretinsky seizes control of the French retailer — LSA
• Fnac Darty: EP Group takes 69.3% of the capital — Économie Matin
• Fnac Darty, Kretinsky at 69.3% but the stock remains listed — Upside24

This article was written with the help of artificial intelligence. Editorial policy