FGPA Srl made an offer to acquire 30.16% stake in Alerion Clean Power SpA (BIT:ARN) for €24.8 million on August 28, 2016. Under the terms, FGPA Srl will acquire 13.03 million shares and pay €1.9 per share in cash. The offer period will be from October 11, 2016 to November 11, 2016. The Board of Directors of Alerion rejected the tender offer judging it as not consistent on October 10, 2016. Filippo Modulo, Italo De Santis and Maria Carmela Falcone of Chiomenti acted as legal advisors while Equita Sim acted as financial advisor and Hager acted as fiscal advisor for Fri-El Green Power, parent of FGPA Srl. FGPA Srl made an offer to acquire 30.16% stake in Alerion Clean Power SpA (BIT:ARN) for €33.9 million on October 28, 2016. Under the terms of revised offer, FGPA Srl will acquire 13.03 million shares at €2.6 per share in cash. As on November 7, 2016, the Board of Alerion has approved the revised terms of the deal. The Board has considered this judgment in conjunction with the condition for which the offer has in fact relate to the 2.25% of Alerion capital with the consequences related to the application of the probable allocation provided by the supplement. Alerion Clean Power Board considers the bid as fair. FGPA Srl completed the acquisition of 30.16% stake in Alerion Clean Power SpA (BIT:ARN) on November 11, 2016.