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Fashion Jobs
By
Reuters
Published
Oct 26, 2015
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Fnac says Darty acquisition could create 85 million euro of synergies

By
Reuters
Published
Oct 26, 2015

French books and music retailer Fnac said on Sunday its proposed acquisition of London-listed electrical goods retailer Darty could generate at least 85 million euros (£61.1 million) per year of synergies before tax.

Fnac also said in a statement its bid had already received the support of two key shareholders, Knight Vinke Asset Management and DNCA Finance SA, which together account for 23.63 percent of Darty's capital.

Fnac said the synergy figure was calculated by Ernst & Young, the auditing firm it had commissioned and which submitted its report on Sunday.

Last month, Fnac made a proposal to buy Darty in a deal that values the retailer at 533 million pounds and could create a French market leader in white goods.
 

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