29th Apr 2016 11:33
LONDON (Alliance News) - Groupe Fnac SA on Friday said it has entered into a new financing facility to help finance its acquisition of shares in fellow electrical goods retailer Darty PLC.
The EUR1.35 billion senior facilities agreement comprises a EUR75 million short-term loan facility with Crédit Agricole, Société Générale and Natixis.
On Monday, Fnac increased its stake in Darty to 30%, which equates to 157.4 million shares. The highest price paid for the shares was 170.00 pence, which is the same as the offer price it has put forward to potentially acquire the whole of Darty.
Fnac has offered to buy Darty for GBP914 million.
Shares in Darty were trading down 0.4% at 168.06 pence on Friday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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Related Shares:
DRTY.L