Stock jumps 36.44% (Il Sole 24 Ore Radiocor) - Milan , 17 Jul - Shares of the Italian consumer electronics and household appliance retailer Unieuro rallied in Milan trade, on the back of a cash-and-share offer from an investment vehicle led by the French retailer Fnack Darty.

At 0810 GMT, Unieuro shares were up 36.44% to 11.16 euros, compared to a bid valuation of 12 euros per share.

The planned acquisition would involve a public offer carried out through an investment vehicle 51% owned by Fnac Darty and 49% by Ruby Equity Investment. Unieuro shareholders turning over their stock would receive 9 euros per share and 0.10 newly issued FNAC Darty shares.

Fnac Darty already own 4.4% of Unieuro.

The deal is expected to be concluded by the last quarter of 2024 and would lead to the creation of a group with over 10 billion euros in revenue and nearly 30,000 employees.

Unieuro acknowledged the offer, which it said it would now evaluate.

AAA-Hob

(RADIOCOR) 17-07-24 10:38:00 (0233) 5 NNNN