With this new shareholder which brings 159 million, distributor strengthens on cultural goods and services. It also finds an ally to finance a possible escalation of Darty.
surprise Reconciliation between two cultural agitators. Vivendi (StudioCanal, Universal Music, Gameloft …) will enter the capital of Fnac. The group chaired by Vincent Bolloré will take 15% of it directed by Alexandre Bompard, through a reserved capital increase of EUR 159 million.
Vivendi will thus have two representatives on the board of Fnac, which will be the second largest shareholder behind Artemis (33%), the holding company of the family Pinault
Vivendi will thus two representatives to the board of Fnac, which will be the second largest shareholder behind Artemis (33%), the holding company of the Pinault family. Ironically: in 1994, Pinault-Printemps-Redoute group, founded by François Pinault, had bought Fnac … Compagnie Générale des Eaux, Vivendi ancestor
This alliance, which. doubles as a strategic partnership demonstrates the commitment of Vivendi to secure the distribution of cultural products (movies, series, music, video games …) in a vertical integration strategy. The group, which also controls Canal +, Deezer and Digitik, has a strategy for increased contact points allowing him to build an effective web to distribute its products in all possible media (TV, Internet, phone … and stores). This is the meaning of his recent alliance with Mediaset in Italy.
Together, the two groups will also invest and innovate in “the development of cultural content in a multichannel approach “
This acquisition will allow Vivendi to access the Fnac customers, who are also his. Together, the two groups will also invest and innovate in “the development of cultural content in a multi-channel approach,” said a spokesman for Fnac, noting that Vivendi believes in him as the future of physical distribution. Both allies will also build partnerships in the organization of concerts and ticket abroad.
Fnac, in turn, strengthens cultural goods distribution business (half of its sales business), the one that suffers the most from the Internet competition. Better, its new shareholder will enable it to accelerate its growth in Southern Europe and Africa, where Vincent Bolloré and Vivendi have strong ambitions.
With this operation, Alexandre Bompard, who managed to stop the falling sales of Fnac, demonstrates the ability to multi fighting. The CEO of Fnac remains in effect determined not to pass up the opportunity to buy Darty. After accepted, administrators appliance distributor, listed on the London Stock Exchange rejected mid-March the bid issued by Fnac, mainly by exchange of shares. They preferred to that of Conforama, Darty offering to redeem in full in cash for 852 million euros, or 125 pence per share. A formal offers registered Monday after the markets closed, “open for an initial period expiring May 2, 2016,” says Conforama in a statement.
“Fnac is studying its position and urges shareholders Darty not to take any decision on their short-term actions’
However, it is not sure many Darty shareholders rush to tender their shares to the offer, although Conforama support from Schroder Investment Management (14% of Darty). And for good reason: for weeks, the markets are betting on a higher bid Fnac. The course of Darty and even closed at over 130 pence on Monday.
In a statement, Fnac reminds his side that “Conforama has pledged to maintain its offer for at least 60 days April 11, 2016 “as a 75% shareholder of Darty have not tendered their shares. Ie until 11 June Meanwhile, “Fnac is currently considering its position and urges Darty shareholders not to take any decision on their short-term actions.” Vivendi could convince them to wait a few more weeks …
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