Inflexion Buyout V Investments LP launched a voluntary cash offer to acquire Infront ASA (OB:INFRO) from Kristian Nesbak, Morten Lindeman and others for NOK 1.5 billion on December 15, 2020. Inflexion Buyout V Investments LP launched a voluntary cash offer to acquire Infront ASA (OB:INFRO) from Kristian Nesbak, Morten Lindeman and others for NOK 1.7 billion on March 1, 2021. Under the terms, Inflexion Buyout will pay NOK 34.4 per shares. Offeror and Infront have entered into a transaction agreement regarding the Offer. As of March 1, 2021, the offer price has been increased to NOK 40 per share. No further amendments will be made to the offer price. Shareholders who have already accepted the Offer will be entitled to the Increased Offer Price; their acceptances remain binding and there is no need for those shareholders to take any action whether to confirm their acceptances or otherwise. Under the terms of the Transaction Agreement, subject to customary conditions, the Board of Directors of Infront has entered into undertakings to only amend, qualify or withdraw its recommendation of the Offer if a competing offer is made. The Offer will be financed by equity commitments from Inflexion Buyout. Inflexion Buyout received pre-commitments including commitments from Kristian Nesbak and Morten Lindeman for total 11.6 million shares representing 26.1% stake of Infront. Inflexion intends to make a compulsory acquisition of the remaining shares in Infront upon acquiring more than 90% and to delist the shares from the Oslo Stock Exchange. Transaction is subject to a minimum acceptance of 90% and regulatory approval from the Federal Financial Supervisory Authority of Germany. The Offer will not contain any conditions as to financing or due diligence. Board of Directors of Infront unanimously decided to recommend that the shareholders to accept the offer. As of January 22, 2021, take-over supervisory authority, has approved offer set out in offer document. The amendments to the Offer and this announcement have been approved by the Oslo Stock Exchange in its capacity as take-over supervisory authority. The offer period is expected to start in the second half of January 2021 and is expected to be three weeks from the date of approval of the Offer Document. Offer period will start from January 25, 2021 and will end on February 15, 2021. Part of consideration will be reinvested in Inflexion and the remaining portion will be settled in cash at the Offer Price. The Offeror further extended the acceptance period of the Offer until March 1, 2021. As of March 1, 2021, the Offeror further extended the acceptance period of the Offer until March 8, 2021. As of March 8, 2021, the Offeror further extended the acceptance period of the Offer until March 15, 2021. As of March 15, 2021, the Offeror further extended the acceptance period of the Offer until March 25, 2021. As of March 16, 2021, Inflexion Buyout V Investments LP has decided to lower the threshold for minimum acceptance condition from 90% to 80% of the issued and outstanding share capital and voting rights of Infront ASA on a fully diluted basis. As of March 16, 2021, Inflexion Buyout V Investments LP (together with its affiliates) currently owns, or has, through acceptances from shareholders and the agreement with the founders of Infront, rights to, in total 34.98 million shares in Infront, representing in total 80.56% of the share capital of Infront ASA. Inflexion Buyout V Investments LP and its affiliates own 7.21 shares in Infront ASA, representing 16.60% of the share capital. Further, taken together with the shares to be acquired from the two founders, Kristian Nesbak (Chief Executive Officer) and Morten Lindeman (Chief Internal Officer), shareholders holding 27.7 million shares in Infront, representing 63.96 % of the shares, have accepted the Offer. As of March 25,2021, just before expiry of the offer, the minimum threshold of 80% stake has been achieved. Completion of the Offer remains subject to, inter alia, regulatory approval from the Federal Financial Supervisory Authority of Germany and there is no change with respect to the remaining closing conditions, the Offeror's settlement of the Offer will take place within two weeks from the date such closing condition "Regulatory Approval" is satisfied. DNB Markets and Ernst & Young AS, Investment Banking Arm acted as financial advisors to Inflexion. Lars Eirik G. Røsås of Thommessen Krefting Greve Lund AS; Richard Spedding and Will Yates of Travers Smith LLP; lger Alfes and Jens Kunz of Noerr LL acted as legal advisors to Inflexion. ABG Sundal Collier Holding ASA (OB:ABG) acted as financial advisor and Advokatfirmaet Selmer DA acted as legal advisor to Infront. Morten Nordgårds, Andreas Holdà and Aleksander Bjerkøy of Skandinaviska Enskilda Banken AB (publ.) acted as financial advisor to Infront. Inflexion Buyout V Investments LP completed the acquisition of Infront ASA (OB:INFRO) from Kristian Nesbak, Morten Lindeman and others on March 25, 2021. Offeror has received acceptances of 37.3 million shares, representing approximately 85.90% of the issued and outstanding shares in Infront ASA. The offeror has June 3, 2021, acquired 3.3 million shares in Infront, and after this acquisition, the offeror owns together with its affiliates a total of 10.5 million shares in Infront, representing 24.1% of the total outstanding share capital of Infront. Accordingly, together with acceptances received under the offer and shares agreed to be acquired from the founders of Infront, the offeror will upon completion of the offer become the holder of in total 40.6 million shares, representing approximately 93.4% of the issued and outstanding shares in Infront. Therefore, the offeror intends to carry out a compulsory acquisition of the remaining outstanding shares in Infront shortly following completion of the offer. The transaction received regulatory approval from the Federal Financial Supervisory Authority of Germany. As reported on June 3, 2021, the offer was declared unconditional on June 1, 2021. On June 16, 2021, the board of director of Inflexion resolved a compulsory acquisition of all shares in Infront which are not owned. As a consequence, Inflexion will automatically assume ownership of the shares that are subject to compulsory acquisition, and Inflexion will as from the date hereof be owner of 100% of the shares in Infront. The offered redemption price under the compulsory acquisition will be NOK 40.00 per share. Any objections to, or rejection of, the offered redemption price must be made at the latest on August 16, 2021. Former shareholders of Infront who do not object to, or reject, the offered redemption price within this deadline will be deemed to have accepted the offered price. Settlement of the offer price to the minority shareholders will take place as soon as possible and no later than June 21, 2021.