February 6, 2018 / 7:07 PM / 18 days ago

France's SFAM buys 11 pct of FNAC Darty group for 335 mln eur

PARIS, Feb 6 (Reuters) - French insurance broker SFAM bought 11 percent of French consumer electronics chain FNAC Darty for 335 million euros ($415 million), it said on Tuesday, becoming the second-biggest shareholder after German retailer Ceconomy.

SFAM said in a statement the share purchase was a long-term investment and could be increased depending on market opportunities, although it added it did not intend to take control of the group.

Germany’s Ceconomy bought just under 25 percent of the French retailer last year, marking its entry into France just weeks after it was spun off from Metro. ($1 = 0.8066 euros) (Reporting by Michel Rose; Editing by Adrian Croft)

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