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General

Vivendi to buy 15 percent of Fnac

Tuesday 12 April 2016 | 08:20 CET | News
Vivendi has agreed buy approximately 15 percent of electronics and cultural products retailer Fnac for EUR 159 million in a reserved capital increase. Vivendi will pay EUR 54 per share, representing Fnac's closing price on 08 April. The companies said they intend to develop co-operation that creates long-term value and is focused on several areas. The completion of the capital increase is subject to Fnac shareholders at the next shareholders' meeting. Fnac will propose the appointment of two Vivendi directors on its board.

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Categories: General
Companies: Fnac / Vivendi
Countries: France
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