R&S Retail Group NV (ENXTAM:RNS) made an offer to acquire the remaining 97.11% stake in FNG Group NV (ENXTBR:FNG) from FNG International N.V, FIPH BV, Directors of FNG including Dieter Penninckx, Manu Bracke, Anja Maes, Emiel Lathouwers, founders of FNG and other shareholders for approximately €150 million in stock on March 24, 2016. Under the terms of the agreement R&S is offering 17.2 new company shares per FNG share and 8.6 new shares per FNG warrant. As of June 21, 2016, Board of Directors of FNG indicated that they, FNG Group NV and FNG International NV will contribute the FNG shares and warrants that they own, in the offer. Such securities represent 77.66% of the total number of securities issued by FNG. The initial acceptance period is running from July 27, 2016 through August 19, 2016. The offer is conditional on a minimum acceptance rate of 50% plus one share, approval by shareholders and competition authorities. The transaction has been approved by Belgium's financial regulatory agency FSMA. As of June 22, 2016, transaction was approved by the Belgian Competition Authority. Henk Vivile, Bart Collier of Banque Degroof Petercam SA acted as financial advisor for R&S Retail Group NV. R&S Retail Group NV (ENXTAM:RNS) completed the acquisition of the remaining 97.11% stake in FNG Group NV (ENXTBR:FNG) from FNG International N.V, FIPH BV, Directors of FNG including Dieter Penninckx, Manu Bracke, Anja Maes, Emiel Lathouwers, founders of FNG and other shareholders on August 19, 2016. As of August 19, 2016, 99.9% of shares were tendered and squeeze-out for the remaining shares are in progress.