The European Investment Bank (EIB) signed today a EUR 100m financing agreement with the Fnac Darty Group. The loan falls within the framework of the European Fund for Strategic Investments (EFSI), which is at the heart of the Juncker Plan. It will be used to finance Fnac Darty’s digital transformation investments, supporting the implementation of its “Cofinance+” strategy to help the group enter a new service platform era.

This is the first time that the EIB has signed a financing agreement with Fnac Darty. It is a strong symbol of the commitment of the EIB – the EU bank – to support a leading European group against a backdrop of intense competition from non-EU pure players.

European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici stated,The signature of this agreement under the Juncker Plan is excellent news. This loan will contribute to accelerating the digital transformation of one of the main distributors of French electronic products. It shows that the European Union is always willing to take action to promote growth and create jobs in France.

EIB Vice-President Ambroise Fayolle commented, “As the EU bank, we are very proud to be able to assist the development of a leading French and European specialist distributor. This loan reflects the EU’s commitment to support innovation within its companies, but also to help them with the digital development that is necessary to face global competition.”

Fnac Darty’s Financial Director Jean-Brieuc Le Tinier said, “The conclusion of this financing operation with the EIB will strengthen the group’s financial structure, while enabling it to benefit from very advantageous credit conditions.”