(AOF) – Fnac Darty (+6.92% to 23.82 euros) is one of the strongest gains in the SBF 120 index thanks to favorable news obtained on the legal front. The specialized distributor announced Monday evening that it expects to receive by the end of the year a payment which will have a positive effect of 130 million euros on its cash flow, after a favorable judgment by the Court of Appeal of London in the context of the dispute linked to the sale of Comet Group Limited.
In November 2022, the High Court in London issued a first instance judgment in favor of Comet’s liquidator. The Fnac Darty group was forced to pay £112 million in December 2022, but strongly contested the merits and appealed the decision.
“The group should thus receive reimbursement of compensation paid as well as reimbursement of procedural costs, i.e. an amount of 130 million euros. This will therefore allow the group to increase its cash flow at the end of the financial year, good news in the context current”, underlines TP Icap Midcap.
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