15th Jul 2016 15:58
LONDON (Alliance News) - European electricals retailer Groupe Fnac SA on Friday said it has received valid acceptances in respect of 329.2 million shares in Darty PLC, ahead of its acquisition of the UK-listed electricals company.
This represents 62% of Darty's issued share capital, and on top of the 157.4 million shares which Fnac already owns, means Fnac now either holds or has received valid acceptances in respect of 486.6 million Darty shares, representing 92% of its issued share capital.
The offer and partial share alternative will be closed for further acceptances on July 29.
Fnac is buying Darty for 170 pence per share and a partial share alternative, under which shareholders are entitled to elect to receive one new Fnac share per every 25 Darty shares instead of all or part of the cash they would otherwise receive.
The deal was agreed in May.
Shares in Darty closed up 0.2% at 170p on Friday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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