Greiner AG entered into an agreement to acquire 27.03% stake in Recticel SA/NV (ENXTBR:REC) from Compagnie du Bois Sauvage SA (ENXTBR:COMB) for approximately €200 million on May 14, 2021. Greiner will acquire the shares at €13.5 per share. The total proposed consideration values Recticel at an enterprise value of €1.04 billion.

In a related transaction, Greiner is planning to launch a full buyout bid for all the remaining shares in Recticel. Following the completion of the transactions, Greiner intends to maintain Recticel's public listing on Euronext Brussels. The transaction is subject to the approval of shareholders of Compagnie du Bois Sauvage.

As of January 11, 2022, Greiner AG continues to work with European Commission on ongoing phase II investigation exploring further option to acquire shares in recticel. Initial acceptance period of the conditional takeover offer will run until January 7, 2022, instead of December 17, 2021. BNP Paribas is acting as exclusive financial advisor to Greiner.

Dorda, Linklaters, Schoenherr and Greenlake Legal are acting as legal advisors and Brunswick Group as communications advisor to Greiner.