SO.FI.M.A. Societa Finanziaria Macchine Automatiche S.p.a., BC Partners and others offered to acquire remaining 48.4% stake in I.M.A. Industria Macchine Automatiche S.p.A. (BIT:IMA) from Hydra S.p.A. and others for €1.4 billion on July 28, 2020. Under the terms, the buyers will acquire the remaining shares for €68 per share (inclusive of dividend). In a related transaction, BC Partners agreed to acquire 20% stake in SO.FI.M.A. Societa Finanziaria Macchine Automatiche S.p.a. Following the completion of the offer, BCP may increase its stake in SOFIMA to approximately 45%. The financing of the transaction is provided by J.P. Morgan, BNP Paribas, Unicredit Corporate & Investment Banking, Mediobanca-Banca di Credito Finanziario S.p.A. and Morgan Stanley. The transaction will also be funded by the issue of Notes of €1.2 billion issued by So.Fi.M.A. Società Finanziaria Macchine Automatiche S.p.A. Post completion, I.M.A. Industria Macchine Automatiche S.p.A. may get delisted. BCP will have a significant representation on board of directors and a series of governance rights. The transaction is subject to customary regulatory conditions, including anti-trust clearances. As per announcement of October 20, 2020, The European Commission has approved the acquisition. The transaction was approved by the board of directors of I.M.A. Industria Macchine Automatiche S.p.A on December 11, 2020. On November 20, 2020, the transaction was filled with Commissione Nazionale per le Società e la Borsa (Consob) for approval. On November 27, 2020 Consob suspended the term for the approval of the offer. On December 4, 2020, Consob provided for the reopening of the term and will expire on December 11, 2020. The tender period of the offer will start from December 14, 2020 and will end on January 14, 2021. Tender period might be re-opened for five consecutive trading days from the January 25 to January 29, 2021. In case of re-opening of the tender period, the consideration related to the shares tendered in the offer during the re-opening of the tender period will be paid on February 8, 2021. As on August 7, 2020, the transaction is expected to close in December 2020. As of January 14, 2021, the buyers has exceeded the 90% threshold of the midcap listed in Milan, thus decreeing the delisting of the shares from Borsa Italiana and will then disclose the details of the obligation to purchase the remaining I.M.A. Industria Macchine Automatiche S.p.A. shares not yet held. Michael Immordino and Leonardo Graffi, Ferigo Foscari, Alessandro Seganfreddo, Pietro Festorazzi, Valerio Bianchi, Ioana Gaga, Martin Forbes, James Greene, Iacopo Canino, Alessandro Nolet, Beatrice Bertuzzi, Axel Schulz, Alexandra Rogers and Aron Senoner of White & Case LLP acted as legal advisor, PricewaterhouseCooper acted as financial advisor, Studio Legale Tributario Facchini Rossi Michelutti and Vitali Romagnoli Piccardi e Associati Via Crocefisso acted as tax advisors for BCP. Poggi & Associati acted as legal and tax advisor and NCTM Studio Legale Associato acted as legal advisor for shareholders of SO.FI.M.A. Andy Shore, David Higgins and Tom Bartram of Kirkland & Ellis acted as legal advisors for BCP. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor to So.Fi.M.A. Società Finanziaria Macchine Automatiche S.p.A. and BC Partners. BNPP SA (Italy branch) and Bank Of America Merrill Lynch International DAC, Milan Branch acted as a fairness opinion provider and financial advisor, Lazard S.r.l. and Rothschild S.p.A. acted as a fairness opinion provider to independent directors of I.M.A. Industria Macchine Automatiche S.p.A. SO.FI.M.A. Societa Finanziaria Macchine Automatiche S.p.a., BC Partners and others completed the acquisition of remaining 48.4% stake in I.M.A. Industria Macchine Automatiche S.p.A. (BIT:IMA) from Hydra S.p.A. and others on January 14, 2021. Post completion of the offer the buyers hold 42.4 million shares representing 98.188 % of issued share capital of I.M.A. Industria Macchine Automatiche S.p.A. The buyers announces that the requirements for the exercise of the right to purchase the remaining 783000 shares, equal to 1.812%, have been met. Following the purchase procedure of the residual securities, Borsa Italiana will order the revocation of the shares from listing. Katia Panichi of Elvinger Hoss Prussen acted as legal advisor to BC Partners.