Tahoe Investors GmbH and Volkmar Rode made a takeover offer to acquire 66.8% stake in Alno AG (DB:ANO) from NORDIC Kitchen Holding AG, Nature Home Holding Company Limited (SEHK:2083), Ffenics I Fund LP managed by Paul Capital, Shun Hing Electric Works and Engineering Co. Ltd., Axxion S.A. (SNSE:AXXION) and others for €25.2 million on October 6, 2016. Under the terms of the transaction, Tahoe Investors GmbH and Volkmar Rode offered €0.50 per Alno share.

Tahoe Investors GmbH will finance the deal from a €32 million loan provided by Halog. The deal is subject to approval of Federal Cartel Office, acquisition of control by Tahoe Investors GmbH and replacement of supervisory Board of ALNO. As on November 19, 2016, Federal Cartel Office approved the acquisition.

Tahoe representatives are also moving into the supervisory board. The period of acceptance for the takeover bid still runs until December 16, 2016 and can be extended until January 5, 2017. As on November 29, 2016, Alno advised its small shareholders to reject the takeover bid.

Oddo Seydler Bank AG acted as registrar to Tahoe Investors GmbH and Volkmar Rode.