Fnac Darty: EP Group consolidates its control with 69.3% of the capital

This operation has significant implications for the group’s governance and its shareholders, although it does not immediately involve changes to the brands, prices, or employment conditions.

At the end of the first phase of the OPA, EP FR HOLDCo, the vehicle controlled by EP Group, received 12,131,427 shares and 525,798 convertible bonds (OCEANE). This represents 40.9% of the capital, added to the 28.5% already held by VESA, a company affiliated with EP Group. The total now reaches 20,577,477 shares, or 69.3% of the capital and voting rights.

The public offer reopens from November 12 to 25, 2026, offering a new opportunity for shareholders and OCEANE holders who have not yet participated. The offer price remains fixed at 35 euros per share, adjusted to take into account the dividend of 1 euro already paid. The price for an OCEANE is 81.16 euros.

It is important to note that this reopening is an opportunity, and not an obligation, for shareholders to sell their shares. The success of this offer does not guarantee a delisting.

Fnac Darty, a major player in the distribution of cultural products, electronics, and household appliances, sees its strategy and governance impacted by this change of control. While Enrique Martinez, CEO, welcomed the result, EP Group emphasizes services and a business model combining stores and digital channels, without announcing any concrete synergies or definitive investments.

The next few days will be decisive, with the reopening of the offer from November 12 to 25, which will allow us to know the evolution of EP Group’s stake.