Fnac Darty — M&A Activity 2016

Apr 11, 2016

Fnac and Vivendi announce a strategic partnership and an equity investment of Vivendi in Fnac

Groupe Fnac SA ("Fnac") and Vivendi SA ("Vivendi") announce a strategic partnership based on a planned cooperation in the cultural sector, complemented by a minority equity investment of Vivendi in Fnac.

Fnac and Vivendi, respectively a recognised expert in the distribution of editorial goods and an integrated group in the media and contents industry, have historically placed their commitment to the cultural sector at the centre of their activities. Today, like other international groups, they intend to develop a strategic partnership and an innovative common project which creates value in the long-term around the following pillars:

• Promotion of cultural contents through an omnichannel approach;
• Reinforced cooperation in Live and in Ticketing internationally;
• Privileged access for clients of both groups to broader digital services;
• Acceleration of Fnac international development, in Southern Europe and Africa in particular.

Vivendi equity investment in Fnac will provide Fnac with additional means to implement its development and external growth plans.

Vivendi has irrevocably undertaken to subscribe to a reserved capital increase of €159m at a price of €54.0 per Fnac share (Fnac closing share price as at 8 April 2016). Following the capital increase, Vivendi will hold around 15% of Fnac capital and voting rights.

As part of this equity investment, Fnac has committed to propose the nomination of two Directors representing Vivendi at Fnac Board of Directors.

The realisation of the reserved capital increase is primarily subject to the vote of shareholders during the next Fnac General Meeting and to the issuance of a Visa on the prospectus by the AMF.

This partnership, consistent with Fnac 2015 strategic plan, confirms and reinforces Fnac's attractiveness.

Artémis will retain its role as a reference shareholder with 33% of Fnac capital and reaffirms its full support to Fnac's strategic development.

About Groupe Fnac - www.groupe-fnac.com: Groupe FNAC is a leading French retail distributor of entertainment and leisure products (including consumer electronics) and a notable player in several other countries in which it operates (Spain, Portugal, Brazil, Belgium, Switzerland, Morocco, Qatar and Ivory Coast). At year-end 2015, Fnac's multi-format network included a total of 199 stores (124 of which were located in France). The Group's network also includes e-commerce websites, including Fnac.com, the third largest French e-commerce website based on average unique visitors (c. 9 million unique visitors per month). An established multi-channel player, Fnac's consolidated revenues totalled €3.9 billion in 2015 and it had more than 14,000 employees.

The International Securities Identification Number for Fnac's ordinary shares is: FR0011476928.

CONTACTS

ANALYSTS / INVESTORS Nadine Coulm nadine.coulm@fnac.com +33 (0)1 55 21 18 63

PRESS Laurent Glepin laurent.glepin@fnac.com +33 (0)1 55 21 53 07