R&S Retail Group NV made an offer to acquire 97.11% stake in FNG Group NV 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.
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.