The Blackstone Group International Partners LLP signed a conditional agreement to acquire a 14.6% stake in NIBC Holding N.V. (ENXTAM:NIBC) from Reggeborgh Invest B.V. for approximately €190 million on February 14, 2020. Under the terms, Blackstone will pay €9.65 per share (cum dividend) or €9.12(excluding dividend of €0.53) to Reggeborgh. In related transactions, The Blackstone Group International Partners LLP agreed to acquire 60.6% stake in NIBC Holding N.V. from J.C. Flowers & Co, paying €8.93 per share (cum dividend), and The Blackstone Group International Partners will launch an offer for the remaining shares in NIBC Holding N.V. for €9.85 (cum dividend) per share. As a result of the transaction, Blackstone Group will acquire 100% stake in NBIC. The transaction is funded from equity funding provided by the Blackstone Funds. The transaction is not close or dispose of any business operated by NIBC, unless proposed by the Managing Board, and will continue to apply the names and logos of the brands of NIBC. The price offered to Reggeborgh has a 2% illiquidity discount to the potential offer. The transaction is subject to obtaining the required competition and regulatory clearances. The transaction is conditional upon the offer being declared unconditional. The works council of NIBC will be consulted in connection with the transaction. NIBC Managing Board and Supervisory Board unanimously and fully support the transaction. It is anticipated that the transaction will close in the second half of 2020. As on June 8, 2020, NIBC, Reggeborgh, J.C. Flowers & Co and Blackstone have entered into discussions on the basis of a proposal by Blackstone, to amend the current Transaction. The key proposed amendments consist of a reduction of the offer price and the introduction of a liquidated damages payment. Pursuant to the proposed amendments, the offer price payable to all shareholders, including J.C. Flowers & Co and Reggeborgh, would be reduced to EUR 7.00 per share. The other proposed amendment would be an obligation on Blackstone to pay liquidated damages of EUR 46 million in total as the only remedy and recourse against Blackstone in certain circumstances where the offer is not declared unconditional because regulatory clearances are not obtained and in certain other cases. At this stage there is no certainty whether agreement among NIBC, Blackstone, JCF and Reggeborgh will be reached on an amendment of the transaction. Bank of America Merrill Lynch International DAC acted as financial advisor for NIBC. Allen & Overy acting as legal advisor for NIBC. Morgan Stanley is acting as financial advisor for Blackstone Group and Clifford Chance is acting as legal counsel for Clifford Chance is acting as legal counsel for Blackstone Group. The Blackstone Group International Partners LLP completed the acquisition of 14.6% stake in NIBC Holding N.V. (ENXTAM:NIBC) from Reggeborgh Invest B.V. on December 21, 2020. The total of 140.99 million shares representing 96.25% stake of NIBC were tendered. All conditions to the offer were satisfied making the offer unconditional. Settlement of shares will take place on December 30, 2020. Blackstone will run a squeeze out offer for remaining shares that are not yet held by Blackstone. NIBC intend to procure the delisting of the shares on Euronext Amsterdam as soon as possible. On January 11, 2021, the post acceptance period was expired 2.1 million shares of NIBC have been tendered under the offer, representing approximately 1.43% of the aggregate issued and outstanding share capital of NIBC. The settlement took place on January 14, 2021. Post settlement, Blackstone hold 97.68% stake in NIBC. NIBC will be delisted on February 18, 2021.