The European Commission has approved Daniel Kretinsky’s proposed takeover of French retail group Fnac Darty, clearing the final major regulatory hurdle for the acquisition.

The Czech billionaire’s investment company, EP Group, is offering €35 per share, with the aim of increasing its existing 28.5% stake to more than 50%. The move is expected to cost approximately €230 million.

The takeover offer is due to close on 9 November 2026, with Fnac Darty expected to remain listed on the Paris stock exchange.

Fnac Darty operates around 1,500 stores across seven European countries and reported revenues of more than €10 billion in 2025. Its business spans consumer electronics, domestic appliances and cultural products.

The deal marks a significant development in the European electrical retail market, bringing one of the region’s largest appliance and electronics retailers under majority control of EP Group.