Tolomei Participations SAS signed an investment protocol to acquire 49.8% stake in Le Tanneur & Cie (ENXTPA:LTAN) for €5.3 million on August 1, 2017. In accordance with the applicable regulations, Tolomei will file a simplified takeover bid with the Autorité des marchés financiers (AMF) in the coming days for all Le Tanneur shares not yet held by Tolomei at a price of €2.5 per share. Qatar Luxury Group-Fashion SPC is committed not to tender its shares in the bid. Tolomei does not intend to implement a mandatory withdrawal of Le Tanneur. The transaction is subject to approval by shareholders. The Board of Directors of Le Tanneur & Cie unanimously evaluated the bid to be in the best interest of the company, its shareholders and its employees and consequently decided to recommend to shareholders to sell their shares. The Directors linked to Tolomei did not take part in the vote on the resolution concerning the interest of the bid. As of October 17, 2017, the deal has been approved by AMF. Augustin Fleytoux and Cannelle Magdane of Degroux Brugère acted as legal advisors to Tolomei Participations. Rothschild & Co acted as financial advisor to Qatar Luxury Group . Tolomei Participations SAS cancelled the acquisition of 49.8% stake in Le Tanneur & Cie (ENXTPA:LTAN) on August 1, 2018.