Fnac Darty sells its British pension fund

Fnac Darty has announced the complete sale of its Comet pension fund in the United Kingdom. The agreement, reached with Canada Life UK, secures a full buy-in of £330 million. This transaction transfers future financial risks to the insurer, guaranteeing long-term benefits for beneficiaries. It represents a significant reduction in risk for Fnac Darty, strengthening its long-term liquidity.

The transaction, a consequence of the 2016 acquisition of Darty, does not affect the group's cash flow or the benefits owed to its beneficiaries. Jean-Brieuc Le-Tinier, Chief Financial Officer of Fnac Darty, emphasizes that this agreement represents a key step in their strategy, achieved without any negative impact on their finances.