This content is not available in your region

Fnac Darty in exclusive talks to buy Eventim's French unit

Access to the comments Comments
Fnac Darty in exclusive talks to buy Eventim's French unit
FILE PHOTO: People walk past a Fnac retail store which sells books, electronics and CDs in Nice, France, January 10, 2019. REUTERS/Eric Gaillard   -   Copyright  ERIC GAILLARD(Reuters)
Text size Aa Aa

PARIS (Reuters) – French electronic goods retailer Fnac Darty <FNAC.PA> Wednesday said it entered exclusive talks to buy the French unit of Germany’s CTS Eventim <EVDG.DE> in a bid to strengthens its ticketing business.

As part of the agreement, CTS Eventim, a European leader in the ticketing business, would acquire a 48% stake in France Billet, Fnac Darty’s ticketing unit, the two companies said in a joint statement on Wednesday.

CTS Eventim would have an option to raise its stake in France Billet to more than 50% after a four-year period.

The companies didn’t specify the amounts of the transactions.

In the first quarter, Fnac Darty already bought, a local ticketing rival.

(Reporting by Inti Landauro; Editing by Leigh Thomas)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.