HLD Associés agreed to acquire 52.06% stake in Microwave Vision S.A. (ENXTPA:ALMIC) from Bpifrance Investissement SAS, Seventure Partners, Eximium SAS and management of Microwave Vision on July 30, 2020. On September 10, 2020, HLD Associés entered into an agreement to acquire 55.56% stake in Microwave Vision from Bpifrance Investissement SAS, Seventure Partners, Eximium SAS and management of Microwave Vision for €93.7 million. As of September 14, 2020, HLD Associés will acquire shares at €26 per share. As on October 19, 2020, Farthouat Finance has been appointed as an independent expert by the Board of Directors of Microwave Vision S.A to provide opinion on public takeover bid which would be followed, if necessary, by a squeeze-out. As on December 31, 2020, Microwave Vision indicates that after the transfer of 55.56% of its capital, a mandatory takeover bid will be filled for the balance of shares not held, at a unit price of €26 per share. This transaction is subject to approval of regulatory authorities in France and abroad. The transaction is expected to complete at the end of 2020. As on December 31, 2020, The transaction is still subject to regulatory approvals abroad and is expected to close during the first quarter of 2021. Allen & Overy LLP represented by Marc Castagnede and Frederic Moreau acted as the legal advisor for Microwave Vision. Alexandre Duguay, Marc Lordonnois and Marine Jamai of Weil, Gotshal & Manges LLP, Paris acted as legal advisors to HLD Associés. Jeremy Scemama and Fabien Goudot of DLA Piper acted as the legal advisor to Bpifrance Investissement SAS as part of the transaction. HLD Associés completed the acquisition of 52.06% stake in Microwave Vision S.A. (ENXTPA:ALMIC) from Bpifrance Investissement SAS, Seventure Partners, Eximium SAS and management of Microwave Vision on January 28, 2021. Canaccord Genuity Group Inc. acted as financial advisor to HLD Associés.