Special Packaging Solutions Investments S.à r.l. made an offer to acquire remaining 51.1% stake in Guala Closures S.p.A. (BIT:GCL) for approximately €300 million on December 8, 2020. Under the terms, Special Packaging Solutions Investments made offer to acquire 36,534,714 shares of Guala Closures at the offer per share of €8.2. And the total voluntary public purchase offer promoted by the Offeror concerned a maximum of 12,598,053 market warrants issued by Guala Closures equal to approximately 65% ??of the Market Warrants issued by the Issuer. In related transactions, Special Packaging Solutions Investments S.à r.l. acquired 24.2% stake and agreed to acquire 16.6% stake in Guala Closures S.p.A. (BIT:GCL). On May 7, 2021, Italian Watchdog CONSOB approves the transaction. On May 17, 2021, Guala Closures Board deems Special Packaging Solutions Investments' bid price as fair. As on June 1, 2021, 3,953,065 ordinary shares tendered in takeover bid. The offer period starts on May 18, 2021 to June 7, 2021. Rothschild & Co. Italia S.p.A acted as financial advisor and fairness opinion provider for the board of directors of Guala Closures. Special Packaging Solutions Investments S.à r.l. completed the acquisition of remaining 51.1% stake in Guala Closures S.p.A. (BIT:GCL) on June 7, 2021. As regards the mandatory takeover bid on shares, at the close of the takeover bid on June 7, 2021, 30,999,792 Ordinary Shares were tendered, representing approximately 44.3% stake in Guala Closures and equal to approximately 84.9% of the Ordinary Shares subject to the Mandatory Offer. In addition, the Offeror made purchases outside the Mandatory Offer, for a total of 1,985,071 Ordinary Shares, equal to approximately 2.8% of the share capital. Therefore, also taking into account the shares held, the bidder will come to hold a total of 66,478,903 Ordinary Shares, equal to approximately 94.9% of the share capital, sufficient for the fulfillment of the Purchase Obligation (Sell-Out Procedure " ) in relation to the remaining 3,549,751 Ordinary Shares. For the voluntary takeover bid on warrants, at the end of the Acceptance Period 10,018,499 Market Warrants were subscribed, representing 51.73% of the Market Warrants issued by the Issuer and equal to 79.52% of the Market Warrants subject to the Voluntary Offer. In addition, the Offeror made purchases outside the Offer for a total of 21,317 Market Warrants, equal to approximately 0.1% of the overall Market Warrants issued by the Issuer. Taking into account the Warrants held, the Offeror will come to hold a total of 16,809,156 Market Warrants, equal to approximately 86.8% of the Market Warrants issued by the Issuer. Upon completion of the Offers, the Offeror will hold an overall stake of more than 90%, but less than 95%, of the Issuer's share capital. Not intending to restore the free float, the Offeror will proceed with the fulfillment of the Purchase Obligation (Sell-Out ") from 18 June 2021 to 8 July 2021 (extremes included). Borsa Italiana will order the cancellation of the Ordinary Shares from listing on the MTA (delisting) starting from the first Trading Day following the Payment Date of the Sell-Out Consideration, starting from July 16, 2021.