US EditionGovernance, management... the Chinese jd.com Accepts the Conditions of the State for Indirect Entry Into the Capital of Fnac Darty
7 Articles
7 Articles
The Minister of Economy, Roland Lescure, assured on Wednesday 26 November that the Chinese e-commerce giant will remain a "sleeping shareholder", who will have "no impact on the management" of Fnac.
DECRYPTAGE - Soon the distributor's second shareholder behind Daniel Kretinsky, the Asian giant made commitments to Bercy.
China's e-commerce giant JD.com accepted Bercy's conditions to indirectly become Fnac Darty's second-largest shareholder, without governance rights or the possibility to raise capital, assured the Minister of Economy on Wednesday, November 26.
According to Minister of Economy Roland Lescure this Wednesday morning, the Chinese JD.com agreed to "have no governance rights" or "no impact on the management" of the Fnac Darty group, of which he could become the second shareholder.
"They will remain a shareholder (...) sleeping, no governance rights, no impact on the company's management," explained Roland Lescure. "We are moving from a German shareholder to a Chinese shareholder, who will have no impact on management or governance," he added.
The e-commerce giant accepted Bercy's conditions to indirectly become the second shareholder of the French distributor, said on Wednesday the Minister of Economy, Roland Lescure. The Chinese group is closing the takeover of the German group Ceconomy, which holds 22% of Fnac Darty's capital.
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