The European Commission has approved the public takeover bid launched by Czech billionaire Daniel Kretinsky to secure a majority stake in Fnac Darty, the French retailer of electronics and cultural goods. The decision, announced on Tuesday, October 20, marks the last regulatory authorization required for the operation to proceed.
A Bid to Cross the Majority Threshold
Kretinsky is already the largest shareholder in Fnac Darty, holding 28.5% of the company’s capital. Through this tender offer, first announced in January, he aims to surpass the 50% threshold and take majority control of the group.
In a joint statement, Fnac Darty and EP FR HOLDCo confirmed that they had “obtained the authorization of the European Commission under the merger control rules for the proposed acquisition of Fnac Darty.”
Final Regulatory Hurdle Cleared
The European Commission’s clearance under EU merger regulations was the last approval pending for the transaction. With this green light, the path is now clear for the offer to move forward, though the completion of the bid remains subject to the remaining procedural steps of the tender process.
The approval underscores Brussels’ assessment that the concentration would not raise competition concerns within the European single market, allowing one of France’s best-known retail brands to pass under the control of the Czech energy and media magnate.
