Europe gives the green light to Daniel Kretinsky’s takeover bid for Fnac Darty

The European Commission has approved Czech billionaire Daniel Kretinsky’s public takeover bid for Fnac Darty. This clears the way for his plan to acquire a majority stake in the French retailer.

Final hurdle

Through his investment vehicle EP Group, Kretinsky currently owns 28.5% of Fnac Darty’s shares, but his ambition extends further: with a public takeover bid, the investor aims to exceed the 50% threshold of the company’s capital and acquire a majority stake in the French electronics group.