The Friedkin Group, Inc. made an offer to acquire 13.4% stake in A.S. Roma S.P.A. (BIT:ASR) for €9.8 million on August 17, 2020. The Friedkin Group, Inc. will acquire 84.4 million shares at €0.1165 per share. Prior to tender offer Friedkin Group directly owns 3.3% stake in A.S. Roma and 83.3% stake in its subsidiary NEEP Roma holding; hence The Friedkin Group hold directly and indirectly total of 86.6% stake in A.S. Roma S.P.A. The Friedkin Group intends to meet the financial coverage of the maximum overall outlay through the use of cash and cash equivalents acquired by way of own means. Messrs Dan Friedkin, Ryan Friedkin, Marc Watts, Eric Williamson and Analaura Moreira-Dunkel were appointed directors of AS Roma by co-option, as of the date of the closing, following the resignations of the directors James J. Pallotta, Charlotte Beers, Richard D'Amore, Gregory Martin, Paul Edgerly, Cameron Neely and Barry Sternlicht. The offer is subject to approval of Commissione Nazionale per le Società e la Borsa and on October 6, 2020, Commissione Nazionale per le Società e la Borsa approved the transaction. Offer is not subject to any condition of effectiveness. The offer is not conditional on the achievement of a minimum subscription threshold and it is addressed, without distinction and on equal terms, to all holders of the Shares. There are no conditions for the effectiveness of the offer dictated by law. On October 7, 2020, Approval by the opinion of the Directors independent directors Independent pursuant to art of the Issuer of the Opinion of 39-bis of the Regulation Independent Directors. It is expected that in the last week of October 2020, the Board of Administration of the Issuer approves the draft financial statements and the consolidated financial statements of the Issuer for the year ended June 30, 2020. In case when Friedkin Group acquires more than 95% stake in total then it will exercise the right to purchase further stake at a price determined pursuant to the aforementioned provision of the TUF and therefore equal to consideration of the offer. Consequently, the shareholders who have not adhered upon the offer, they will be obliged to sell their Shares to the Friedkin Group who, upon completion exercise of the right to purchase, will become the sole shareholder of the Issuer. In this case, Borsa Italiana will also order the Delisting of the Issuer's shares from listing on the Mercato Telematico Azionario. If Friedkin Group acquires more than 90% but less than 95% then the shareholders of AS Roma who have not joined the takeover bid will retain the right to sell their Shares to the offeror at a specified price pursuant to art. 108, paragraph 3, of the TUF, i.e. at a price equal to the consideration of the offer. The offer will commence on October 9, 2020 to October 29, 2020. The offer will end on November 6, 2020. J.P. Morgan Securities LLC acted as financial advisor and Morrow Sodali S.p.A acted as information agent to Friedkin Group in transaction. Irving Bellotti of Rothschild S.p.A. acted as financial advisor and fairness opinion provider to board of directors and independent directors of A.S. Roma S.P.A in transaction. Francesco Tedeschini, Andrea Sacco Ginevri, Marco Nicolini, Giulio Napolitano, Alfredo Vitale and Federico Amoroso of Chiomenti Studio Legale acted as legal advisors for Friedkin Group. Gianluca Cambareri of Studio Legale Tonucci and Goffredo Guerra, Barbara Donato, Francesco Maria Aleandri, Matteo Minero, Giovanni Ragnoni Bosco Lucarelli, Claudio D'Alia, Gianfranco Giorgio, Christian Montinari, Giovanni Iaselli, Peter White, Richard Rubano and Alex Steinberg of DLA Piper LLP (US) acted as legal advisors for A.S. Roma. Sullivan & Cromwell acted as legal advisor and Goldman Sachs acted as financial advisor in the transaction.