R2G Rohan S.à r.l. made an offer to acquire remaining 92.1% stake in Pegas Nonwovens S.A. (SEP:PEGAS) for CZK 8.2 billion on July 17, 2017. As part of the deal, R2G Rohan S.à r.l. made a tender offer to acquire remaining shares in Pegas Nonwovens at a price of CZK 1,010 per share. The acquisition will be financed by loans granted to R2GR by its shareholders. If upon completion of the bid, R2GR holds shares representing not less than 95% of the share capital of Pegas and 95% of the voting rights, R2GR will be entitled to require all the holders of the remaining shares not tendered in the bid to sell to the offeror these securities. If R2GR intends to exercise its Squeeze-Out rights, it will do so within three months from the end of the acceptance period. The deal is subject to approval of Czech National Bank. As of July 18, 2017, Pegas Nonwovens recommended that shareholders of Pegas Nonwovens do not take any action in respect of the offer. As of August 21, 2017, all regulatory approvals and opinions in respect of the offer have been received. As on August 16, 2017, the Board of Directors of Pegas unanimously approved the transaction. The tender offer will remain open for acceptance till September 25, 2017. As on September 25, 2017, R2G Rohan had received acceptances representing 70.16% of the share capital tendered in accordance with the terms and conditions of the offer. Further acceptances representing 7.83% of the share capital remain under review by the agent and advisers to R2G Rohan. Settlement will occur no later than October 5, 2017. Without the acceptances under review, this will result in R2G Rohan holding upon settlement shares representing 80.99% of the share capital of Pegas. Ceská sporitelna, a.s. acted as the tender offer agent and fairness opinion provider to Pegas Nonwovens. Ernst & Young, s.r.o., Invesement Banking Arm acted as fairness opinion provider to Pegas Nonwovens. R2G Rohan S.à r.l. completed the acquisition of an additional 80.6% stake in Pegas Nonwovens S.A. (SEP:PEGAS) for CZK 7.1 billion on October 9, 2017. Following the completion of the offer, R2G Rohan holds 88.49% stake in Pegas Nonwovens.