CASE COMMENTS: MERGERS – RETAIL OF NON-FOOD PRODUCTS

Commitments: The French Competition Authority authorizes, subject to the divestment of six retail stores in Paris and the Parisian region, an operation in the electro-domestic products retail sector (Darty / Fnac)

*This article is an automatic translation of the original article in French, provided here for your convenience. Read the original article. Following an in-depth examination (Phase 2), and a Homeric stock exchange battle which also involved Conforama and its South African shareholder, the Competition Authority (the "Authority") has cleared the transaction, subject to disposal commitments relating to six stores in Paris and the Paris region, the acquisition of Darty ("Darty"), listed on the London Stock Exchange, by Fnac ("Fnac", together the "Parties") for approximately EUR 1.16 billion (the "Operation"). From a strategic point of view, the Operation enables Fnac to substantially strengthen its position in so-called "brown" products (TV sets, DVD players, cameras, etc.) and "grey"

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Author

  • Clifford Chance (Paris)

Quotation

David Tayar, Commitments: The French Competition Authority authorizes, subject to the divestment of six retail stores in Paris and the Parisian region, an operation in the electro-domestic products retail sector (Darty / Fnac), 27 July 2016, Concurrences Nº 4-2016, Art. N° 82078, pp. 139-141

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