GUCCI Sells Fnac Darty Surplus Holdings

France

Art MIS SA, the family holding company of Fran OIS OIS Pinault Francois Pino, the owner of Kai Yun group, has sold the remaining 24.33% stake of Fnac Darty SA (FNAC.PA), and ended up 23 years of investment in the European book audiovisual products and electrical retailers, taking over the electrical appliance retailer of Metro FNAC.PA.

Kering SA, the predecessor of Kai Yun group, became the controlling shareholder of Fnac SA in 1994.

Since the acquisition of Gucci Gucci in 1999, PPR began to pform its strategy, focusing on the luxury sector. Since 2006, the sale of Printemps Paris spring department store has gradually stripped retail business.

After the successful sale of French furniture retailers Conforama and CFAO, PPR still failed to find buyers for Fnac SA.

According to the world clothing shoes and hats net, in 2013, the renamed Kering SA opened the cloud group to split the Fnac SA.

In June 20th, Fnac SA, founded in 1954, was below 22 euros per share.

The expected issue price is listed on the pan European Paris stock exchange and is back to the open market after its listing in Paris in 1980.

In April 2016, Fnac SA privatized British electrical appliance retailer Darty PLC in 1 billion 160 million euros and merged into the current Fnac Darty SA.

The group has more than 660 stores in Europe, with annual sales of over 7 billion euros. It is the largest consumer of electrical goods in France, with a local market share of 23%.

Ceconomy completed the spin off of Metro AG Metro two weeks ago. The company will focus on the sale of consumer electronics and electrical appliances, while the new Metro Metro will mainly deal with wholesale and food businesses and turn to Frankfurt and Luxemburg.

Ceconomy will make a price of 70 euros per share (compared with Fnac Darty SA (FNAC.PA) on Tuesday, closing market price of 75.51 euros discount 7.3%), plus about 452 million euros to buy Art e MIS SA's shareholding, becoming the largest shareholder of Fnac Darty SA, and enter the "attractive" French market by chief executive officer.

Art e MIS SA, founded by Fran C OIS Pinault in 1992, holds

Gucci, Yves Saint Laurent, St. Laurent, Balenciaga, parisenjia and other brand parent Kering SA SA group's controlling stake, and his son Fran ois-Henri Pinault Pinault Francois Henry Pino as chairman and chief executive officer.

The company also has assets such as auction house Christie's International PLC Christie's and Ch teau teau Latour Latour.

In recent years, the investment of Art MIS SA is also dominated by luxury goods industry.

In 2015, the company was reported to have bought the French fashion house Courr e ges 30%, the largest luxury cruise liner of France, Compagnie Du Ponant, and the French luxury yacht manufacturer Fountaine Pajot SA (ALFPC.PA) Fontainebleau.

Last month, Art e MIS SA bought a minority stake in Italy designer luxury brand Giambattista Valli.

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