PPR : PPR : Groupe Fnac obtains French Financial Markets Authority's visa on its prospectus for the listing of its shares

 PPR : PPR : Groupe Fnac obtains French Financial Markets Authority's visa on
                 its prospectus for the listing of its shares

Press Release
26.04.2013

Groupe  Fnac  obtains  French  Financial  Markets  Authority's  visa  on   its 
prospectus for the listing of its shares

Kering* announced today that Groupe Fnac has obtained the visa from the French
Financial Markets  Authority (Autorité  des Marchés  Financiers, "AMF")  dated 
April 25, 2013 with respect to its French prospectus in view of the  admission 
to trading on the regulated market of NYSE Euronext in Paris of its shares (as
well as allotment rights to its shares) in the context of the distribution  of 
Groupe Fnac shares to Kering* shareholders.

Terms and Conditions of the Transaction

Obtaining the AMF visa with  respect to the prospectus  of Groupe Fnac is  the 
first stage in the process of the admission to trading of the Company's shares
on Euronext Paris. On June  18, 2013, Kering*'s annual combined  shareholders' 
meeting will  be called  upon  to approve,  among  other items,  the  proposed 
distribution in kind of Groupe Fnac shares, a precursor for the listing of the
Company. Trading of  Groupe Fnac  shares is  expected to  commence on  20June 
2013.

Artemis Group Agreement

Upon the distribution in-kind, Artemis Group will hold approximately 38.9%  of 
the share  capital and  voting rights  of the  Company. The  revolving  credit 
facility in a maximum principal amount of €250 million executed by Groupe Fnac
on April 19, 2013  in the context  of the group's  separation from the  Kering 
group requires the early prepayment in  the event that Artemis ceases to  hold 
determined  floors  of  shareholdings.  Artemis  Group  has  consented  to  an 
undertaking in respect of  this revolving credit facility  for the benefit  of 
Groupe Fnac (the terms of  which are described in  Section 18.1 of the  French 
prospectus).

Publicly available Information

Groupe Fnac's French prospectus, approved by the AMF under visa number  13-179 
on  April  25,   2013,  is   available  on   the  websites   of  the   company 
(www.kering.com),  of  Groupe  Fnac  (www.groupe-fnac.com)  and  of  the   AMF 
(www.amf-france.org), An English  free translation  of the  prospectus and  an 
Information Document for U.S.  shareholders of Kering*  are also available  on 
the company's website. Each  of these documents is  available free of  charge 
and upon request to the Company at 9rue des Bateaux-Lavoirs, ZAC Port d'Ivry,
94200 Ivry-sur-Seine. Groupe  Fnac draws the  public's attention to  Chapter4 
"Risk Factors" of the French prospectus. These risk factors are those  which, 
as of the date of the visa  on the French prospectus, in the Group's  opinion, 
should they materialize, could have a  material adverse effect on the  Group's 
business, image, results  of operations, financial  condition and  prospects. 
Investors should  note  that  the risks  found  in  Chapter 4  of  the  French 
prospectus are not the only risks facing the Group. Additional risks that are
not known at the date hereof, or that the Group currently considers immaterial
based on the information available to  it, may have a material adverse  effect 
on the Group, its business,  image, financial position, results of  operations 
or growth prospects.

* PPR will become Kering, subject to approval at the Annual General Meeting on
18 June 2013.

About Kering*
A world leader  in apparel  and accessories,  Kering develops  an ensemble  of 
powerful Luxury and  Sport &  Lifestyle brands: Gucci,  Bottega Veneta,  Saint 
Laurent, Alexander  McQueen,  Balenciaga,  Brioni,  Christopher  Kane,  Stella 
McCartney, Sergio  Rossi,  Boucheron, Girard-Perregaux,  JeanRichard,  Qeelin, 
Puma, Volcom, Cobra, Electric and Tretorn. By 'empowering imagination' in  the 
fullest sense, Kering encourages its brands  to reach their potential, in  the 
most sustainable manner.
Present in  more than  120 countries,  the Group  generated revenues  of  €9.7 
billion in 2012  and had  33,000 employees  at year  end. The  PPR (in  future 
Kering) share is listed on Euronext Paris (FR 0000121485, PRTP.PA, PPFP).
* PPR will become Kering, subject to approval at the Annual General Meeting on
18 June 2013.

Press contacts
Paul    Michon     +33     (0)1    45     64     63 
48 paul.michon@kering.com
Hélène      Saint-Raymond      +33      (0)1      45      64      61 
20 helene.saint-raymond@kering.com

Analyst/investor contacts
Alexandre  de  Brettes  +   33  (0)1  45  64   61 
49 alexandre.debrettes@kering.com
Edouard  Crowley  +  33  (0)1  45  64  63   28 
edouard.crowley@kering.com

Website: www.kering.com

Availability of Groupe Fnac prospectus

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