Fosun Property Holdings Limited entered into a binding offer letter to acquire 50.01% stake in Paref SA (ENXTPA:PAR) from Mo 1 société, Groupe APICIL, Anjou Saint Honoré and Lévy-Lambert and family for €45.3 million on January 25, 2017. Fosun Property offered to acquire 0.6 million shares at €75 per share. The offer letter is subject to the satisfaction of a number of conditions, including the negotiation of a legal documentation satisfactory to the parties, whose execution, if the negotiations are successfully completed, shall take place within the coming weeks. The management Board and the supervisory Board of Paref will give their full support to the transaction. As of April 10, 2017, Fosun Property Holdings Limited entered into agreement to acquire 50.01% stake in Paref SA (ENXTPA:PAR) from Mo 1 société, Groupe APICIL, Anjou Saint Honoré and Lévy-Lambert and family. The completion of the transaction is subject to approval by Autorité des marchés financiers (AMF) on the change of control of Paref Gestion as a result of the transaction, issuance by Valphi, appointed by Paref of its report, certifying that the terms of the mandatory tender offer are fair from a financial standpoint to the shareholders of Paref and the approval by the annual general meeting and the special meeting of shareholders of Paref and the change of Paref's governance structure to a board of directors structure. The completion of the acquisition should occur by the end of half year 2017. Alexandre Dechaux and Delphine Maillet of Citigate Dewe Rogerson acted as public relation advisors, CM-CIC Conseil acted as financial advisor and Emmanuel Dayan of Valphi acted as an independent expert to Paref. N M Rothschild & Sons Limited acted as financial advisor for Fosun Property. Fosun Property Holdings Limited completed the acquisition of 50.01% stake in Paref SA (ENXTPA:PAR) from Mo 1 société, Groupe APICIL, Anjou Saint Honoré and Lévy-Lambert and family on July 20, 2017.