Fnac Darty waives its right to contest the grievance notified to it by the Competition Authority’s investigating services

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Fnac Darty waives its right to contest the grievance notified to it by the Competition Authority’s investigating services

As announced on 3 March 2023, several players in the domestic appliance manufacturing and distribution sector have received a statement of objections from the Competition Authority’s investigation services, in which a certain number of suppliers of having entered into a vertical agreement with some of their distributors.

Among all the grievances formulated by the services of the Competition Authority, only one concerns Darty and extends over a limited period which ended in December 2014, i.e., almost 10 years ago, and therefore prior to the acquisition of Darty by Fnac carried out in 2016. Moreover, this grievance concerns only a limited number of well-identified product categories.

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To bring a rapid close to a complex procedure and to be able to devote all its resources to the operational implementation of its “Everyday” strategic plan, Fnac Darty has decided not to contest the only grievance notified to it and to request the benefit of the settlement procedure provided for in Article L. 464-2 of the French Commercial Code.

This choice constitutes neither an avowal nor an acknowledgement of responsibility on the part of Darty.

The exact amount of the penalty likely to be imposed on Darty will only be known at the end of the procedure, which should in principle take place at the beginning of 2024. However, in anticipation of the Authority’s decision at that time, the Group plans to set aside a provision of €85 million in the second quarter of 2023.

CONTACTS

ANALYSTS / INVESTORS                        Domitille Vielle                [email protected]
+33 (0)6 03 86 05 02
                                                
                                                Laura Parisot                [email protected]
                                                                        +33 (0)6 64 74 27 18

PRESS                                        Audrey Bouchard        [email protected]
+33 (0)6 17 25 03 77

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