Czech Republic-based EP Group has unveiled plans to launch a cash voluntary tender offer for French retailer Fnac Darty before the end of the first quarter of 2026.

The offer was unanimously supported by the retailer’s board in principle and will be made through a newly created subsidiary EP FR HoldCo.

The entity is owned 56% plus one share by EP Group, controlled by Daniel Kretinsky, and 44% minus one share by J&T Capital Partners.

Under a public offer agreement with Fnac Darty, EP Group aims to buy all shares and bonds convertible or exchangeable for shares (OCEANE) that it does not already own, without going through a squeeze-out.

The group has set the price at €36 ($42.72) per share, including the 2026 dividend for the 2025 financial year, and €81.09 per OCEANE, which includes €0.06 of accrued interest.

The share offer represents premiums of 19% to the closing price on January 23, 2026, 24% to the one-month volume-weighted average price and 26% to the three-month VWAP.

At this level, Fnac Darty’s capital is valued at 1.1 billion euros.

EP Group President and CEO Daniel Kretinsky said: “Since our entry into the capital in 2021, we have been able to appreciate the strength of Fnac Darty’s omnichannel model and the relevance of its ‘Beyond Everyday’ strategy. With this friendly offer, which has been welcomed by the board of directors, we want to consolidate our great long-term commitment with be shareholder.”

VESA Equity Investment, a subsidiary of the EP Group, which entered the company in 2021, held 28.5% of the shares on January 26, 2026.

The company stated that its registered office and management will remain in France, it will maintain its current management team, adjust the composition of the board to reflect the new ownership structure and maintain its existing dividend policy.

The deal is fully funded, with security facilities to cover any early repayment of debt triggered by change of control clauses.

The operation remains subject to regulatory authorizations, employee consultations, the legal expiry threshold of more than 50% of the capital or voting rights and the review by the French Financial Markets Authority (Autorité des Marchés Financiers, AMF).

“EP Group plans public offering for Fnac Darty shares and bonds” was originally created and published by Retail Insight Networka trademark owned by GlobalData.

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