Axxion Asset Management SAC made an offer to acquire Industria Textil Piura S.A. (BVL:PIURAC1) from The Romero Group S.A.C. and others for PEN 1.1 million on July 1, 2016. Under the terms of the offer, Axxion Asset Management offers PEN 0.02 for each common share. The tender offer is launched to acquire approximately 56.84 million common shares of Industria Textil Piura that represent 100% stake, and is conditioned on the acquisition of a minimum of 65% stake, that amounts to approximately 36.95 million shares. The offer will begin on July 5, 2016 up and will end on August 3, 2016. The offer term may be extended. Javier Zavala and Gerard Chafer of LXG Capital acted as financial advisors for The Romero Group S.A.C. Gonzalo de las Casas and José Jimene of Rebaza, Alcázar & De Las Casas acted as legal advisors for Axxion Asset Management.