Enverlis, S.A. de C.V. made an offer to acquire 17% stake in Bio Pappel, S.A.B. de C.V. (BMV:PAPPEL *) for MXN 1.3 billion on September 22, 2020. Under the terms, Enverlis will acquire 49.32 million Bio Pappel shares at a price of MXN 26 per share. Shareholders linked to Enverlis currently control a shareholding of 85.46% in Bio Pappel, either directly or indirectly. The purchase offer will be valid for a period from September 23, 2020 to October 21, 2020. The aim of the tender offer is to control at least 95% of Bio Pappel. The settlement date of the offer is October 26, 2020. As per the update on October 13, 2020, Bio Pappel shares could be delisted soon. Patricio Trad Cepeda of Mijares, Angoitia, Cortes y Fuentes acted as legal advisor to Enverlis. Enverlis, S.A. de C.V. completed the acquisition of 11.8% stake in Bio Pappel, S.A.B. de C.V. (BMV:PAPPEL *) for approximately MXN 890 million on October 21, 2020. The offer expired on October 21, 2020. Post-expiry of offer, 34.08 million shares were tendered, representing 11.75% stake. The shares currently held directly and indirectly by Enverlis’ shareholders represents 97.21% of the capital stock of Bio Pappel, S.A.B. de C.V. The transaction was funded with resources from a credit granted to Enverlis, S.A. de C.V. by a credit institution that is part of the same financial group as Scotia Inverlat Casa de Bolsa, SA de CV. Scotia Inverlat Casa de Bolsa, S.A. de CV, Grupo Financiero Scotiabank Inverlat acted as the financial advisor and placement agent to Enverlis, S.A. de C.V.