BinDawood Holding Enters into Exclusive Negotiations to Acquire Majority Stake in French Econ

BinDawood Holding Company (BDH) through its wholly owned subsidiary, Future Retail for Information Technology Company (Future Technology Retail (“FTR”), a technology and retail solutions investment company, announced on Sunday it has entered into exclusive negotiations for the potential acquisition of a majority stake in Ykone, a subsidiary of TF1 group, a French leader in content production, publishing and distribution.

The potential transaction will be undertaken through a French subsidiary company to be incorporated by FTR.

It added that “Ykone” is a profitable international influencer marketing agency, with a proprietary technology offering, focused on travel, beauty, fashion, and luxury brands, with a presence in Europe, Asia, the US, and the Middle East. It provides end-to-end services on strategy, talent management, content production, and monitoring to more than 200 leading brands across the globe including the MENA region.

If and when an acquisition agreement is reached following negotiations, the acquisition parties will move forward with the regulatory and legal process to complete the acquisition procedures.

The respective shareholders will be informed of any future developments in this regard.