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Wednesday, 19 July 2017

Fnac Darty announces the disposal of its Brazilian operations

Fnac Darty    

Published: 17:46 CEST 19-07-2017 /GlobeNewswire /Source: Fnac Darty / : FNAC /ISIN: FR0011476928


 

 

Fnac Darty has announced the signature of an agreement for the sale of its subsidiary Fnac Brazil to the Livraria Cultura group.

 

Operating in Brazil since 1999, with a network of 12 Fnac stores and a website, Fnac Darty launched at the end of 2016 a process to identify a partner, in order for Fnac Brazil to reach a critical size.

 

Livraria Cultura is a longstanding player in the retailing of editorial products in Brazil, with a network of 18 stores and a well-known e-commerce offering. Livraria Cultura offers a promising industrial project for Fnac Brazil and will rely on Fnac brand awareness and the expertise of its teams to continue to implement its development strategy. This merger between two groups sharing similar cultures and committed to cultural promotion in Brazil will create value and synergies. It will allow the Livraria Cultura Group to diversify its business, through the contribution of Fnac's technical products.

 

In order to give the new entity all the resources it needs to position itself amongst the leaders in its market, Fnac Darty will license the Fnac brand and will carry out a recapitalization.

 

Completion of the transaction is expected in the coming weeks.

 

 

 

CONTACTS

        

ANALYSTS &
INVESTORS 

Stéphanie Constand

stephanie.constand@fnacdarty.com

+33 (0)1 55 21 18 63

PRESS

Laurent Glepin

 

laurent.glepin@fnacdarty.com

+33 (0)1 55 21 53 07

 

Alexandre André

alexandre.andre@fnacdarty.com

+33 (0)1 55 21 54 46

 



Communiqué en PDF



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: Fnac Darty, 9 Rue Des Bâteaux Lavoirs, Ivry-sur-Seine FR-94200, France
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