CIEL Limited (MUSE:CIEL.N0000) signed an agreement to acquire remaining 7.08% stake in CIEL Textile Limited (MUSE:FKL.I0000) for approximately MUR 320 million on June 7, 2019. The transaction is a compulsory purchase by CIEL Limited of all CIEL Textile Limited shares still held by minority shareholders. CIEL Limited will acquire ordinary shares of CIEL Textile Limited at a price of MUR 44 per CIEL Textile Limited’s ordinary share, the purchase consideration of which being made up of 50% in cash and 50% in ordinary shares of CIEL Limited that is to say, MUR 22 in cash and the difference being made up of the necessary number of ordinary shares of CIEL Limited, for every CIEL Textile Limited ordinary share. Post completion of the transaction, ordinary shares of CIEL Textile Limited will be delisted. The transaction was approved by the Board of CIEL Textile Limited and CIEL Limited. The transaction was approved by Supreme Court of Mauritius on July 4, 2019. The effective date of the agreement and CIEL Textile becoming private is August 15, 2019 or such later date as the court may allow.