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Vivendi acquires 15% stake in French entertainment retailer Groupe Fnac

RBR Staff Writer Published 12 April 2016

French media company Vivendi has signed a deal with consumer electronics and entertainment retailer Groupe Fnac, to acquire 15% stake.

Fnac

Vivendi will subscribe for a reserved capital increase of €159m at a price of €54 per Fnac share.

The realization of the reserved capital increase is subject to shareholders' approval, which will be obtained during the next Fnac General Meeting and to the issuance of a Visa on the prospectus by the AMF.

Through this stake sale, Fnac will get cash to implement its development and growth strategies.

As part of this partnership, Fnac will propose nomination of two directors representing Vivendi on Fnac's board.

Through this partnership, the two companies intend to develop association focused on several key areas which include increased reach of cultural content which could enhance their distribution partnerships, cooperation in live events and ticketing, special access to extended digital services of customers of both groups, accelerating Fnac's international growth in Southern Europe and Africa where Vivendi has strong presence.

Vivendi is also executing a plan to build a media group around its French pay-TV station Canal Plus, seeking combinations to expand in video, music and distribution in southern Europe.

Groupe Fnac is a French retailer and distributor of entertainment and leisure products (including consumer electronics) and operates in Spain, Portugal, Brazil, Belgium, Switzerland, Morocco, Qatar and Ivory Coast.

By the end of 2015, Fnac's multi-format network included a total of 199 stores. The Group's network also runs websites, including Fnac.com.


Image: Fnac store in Paris. Photo: Courtesy of Blone at French Wikipedia.