July 24, 2019 / 5:13 PM / 4 months ago

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

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 Billetreduc.com, a local ticketing rival.

Reporting by Inti Landauro; Editing by Leigh Thomas

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