(Alliance News) - Fnac-Darty SA and Ruby Equity Investment Sàrl announced Tuesday evening that they have entered into an investment agreement aimed at jointly promoting a voluntary tender offer to purchase and exchange the 19.8 million ordinary shares of Unieuro Spa not yet held.

The offer is aimed at delisting Unieuro's shares from Euronext Milan.

Fnac-Darty - a company under French law - directly holds 913,412 ordinary shares of Unieuro representing about 4.4 percent of the share capital, which are excluded from the offer.

Fnac-Darty's share capital amounts to nearly EUR27.8 million divided into the same number of shares of the same class, each with a par value of EUR1 and the right to one vote, fully subscribed and paid up.

Ruby Equity Investment, on the other hand, is a limited liability company incorporated under Luxembourg law, with share capital of EUR12,000 divided into 12,000 shares of the same class, each with a par value of EUR1, fully subscribed and paid up.

According to the agreement between the two companies, Unieuro's share capital will be held by a new company under French law--HoldCo--whose capital will in turn be held 51 percent by Fnac-Darty and 49 percent by Ruby.

Unieuro made it known that upon receipt of this announcement, the company's board of directors immediately met "to take note of this announcement."

The board, moreover, "reserves any assessment in this regard and, once it has acquired the necessary information, will take the relevant resolutions within the timeframe provided by the applicable regulations," the company specified in a note.

Unieuro closed Tuesday 1.4 percent in the red at EUR8.24 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.