Montefiore Investment V managed by Montefiore Investment, SA proposed simplified tender offer to acquire remaining 12.56% stake in Groupe Open (ENXTPA:OPN) for €34 million on January 11, 2022. Montefiore Investment V managed by Montefiore Investment, SA entered into a memorandum of understanding to acquire remaining 12.56% stake in Groupe Open (ENXTPA:OPN) for €34 million on February 1, 2022. Offer price is set to €33.5 per share.

Offer will be followed by squeeze out. The offer is conditional upon finalization of financing agreement for principal amount of €120 million. This amount will finance the offer as well as the aforementioned capital reorganization of new go.

The offer will not be subject to any regulatory approval other than the review by the AMF of its compliance with applicable legal and regulatory provisions. JEREMY SCEMAMA and LAURENT ASQUIN of Shearman & Sterling (London) LLP acted as legal adviser to Montefiore Investment V managed by Montefiore Investment. Cyril Deniaud of Jeantet acted and Ayache acted as legal advisor to Groupe Open.

D&A acted as financial advisor in connection with the transaction. Oddo BHF acted as the presenting bank for the transaction. Pierre Béal of BM&A provided fairness opinion to Groupe Open.