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Luxembourg : Investment plan: EIB provides 100 million euro loan to Fnac Darty to support digital transformation
Publish Date : 20-Feb-2019
The European Investment Bank signed a 100 million financing agreement with the Fnac Darty Group. The loan is part of the European Fund for Strategic Investments, EFSI, the heart of the "Juncker Plan". The objective is to finance Fnac Darty's digital transformation investments in support of the deployment of its "Trust +" strategy, aimed at bringing the group into a new era of service platform.
This is the first time that the EIB has signed a financing agreement with Fnac Darty. A strong symbol of the willingness of the EIB - bank of the European Union - to support a leading group in Europe in a context of strong competition from non-European pure players .
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, said: "The signing of this agreement under the Juncker Plan is excellent news, and this loan will accelerate digital transformation. from one of the leading French electronics distributors, which shows that the European Union is always ready to act to promote growth and job creation in France. "
Ambroise Fayolle, Vice President of the European Investment Bank, said: "We are very proud as a European Union bank that we can help develop a French and European leader in specialized distribution. This loan is in line with Europe's desire to support both innovation within companies and to support them in the necessary digital development required by global competition. "
Jean-Brieuc Le Tinier, Chief Financial Officer of Fnac Darty, said: "The implementation of this financing with the EIB strengthens the Group's financial structure, while allowing it to benefit from very advantageous credit conditions".
