Efanor Investimentos SGPS, SA made an offer to acquire remaining 31.39% stake in Sonae Indústria, S.G.P.S., S.A. for €16.2 million on July 31, 2020. Efanor Investimentos offers at €1.14 per share in cash. As of October 6, 2020, Efanor Investimentos SGPS, SA made an offer to acquire additional 25.8% stake in Sonae Indústria, S.G.P.S., S.A. for €13.4 million. Efanor Investimentos, along with Pareuro, BV owns 74.3% stake in Sonae Indústria. They both will collectively own 100% in target post completion of the offer. The Offeror will finance the Offer with credit lines already contracted, through which the funds necessary to pay the full consideration offered are assured. The transaction is subject to reaching more than 90% of the voting rights of Sonae Indústria. The Board of Directors of Sonae Indústria, S.G.P.S., S.A. considered offer by Efanor Investimentos SGPS, SA to be fair and adequate. The offer will take place between October 7 and October 27, 2020. CaixaBI acted as financial advisor to the offeror.