Tikehau Capital (ENXTPA:TKO) made an offer to acquire Selectirente (ENXTPA:SELER) for approximately €140 million on October 18, 2018. As part of offer, Selectirente shareholders could tender their shares for a cash consideration of €89 per share (cum dividend) and could tender their convertible bonds for a cash consideration equal to €89 per bond in cash multiplied by the share allocation ratio. As per disclosure of December 19, 2018, the offer per share for convertible bond is €89.45 and for shares is €89 per share. As on January 24, 2019, Tikehau Capital will acquire 1.1 million shares representing 74.4% of Selectirente and 0.06 million Oceane. The offer will be for €86.8 per share. The offer will not be subject to any condition other than the statutory acceptance threshold provided for by applicable regulations. The success threshold is 50% of the share capital or voting rights of the company. The squeeze out is applicable in the transaction. The opening of the offer is expected to take place in January 2019 after obtaining the approval of the Autorité des marchés financiers on the prospectus. The offer runs from January 25, 2019 to February 28, 2019. As of March 4, 2019, Tikehau completed the acquisition of 0.78 million shares of Selectirente, representing a 50.39% stake, as a part of the initial tender offer. As of March 15, 2019, it was disclosed that Tikehau will launch a subsequent tender offer for the acquisition of the remaining stake out of the initially decided 74.4%. The terms offered under the subsequent offering will be the same as the initial tender offer (€86.8 per share and €87.25 for each convertible bond). The subsequent offer will commence from March 18, 2019 and will run till March 29, 2019. Nicolas Durand, François Pérol and Cyril de Mont-Marin of Rothschild & Cie acted as financial advisors and Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor for Tikehau Capital.

Tikehau Capital (ENXTPA:TKO) completed the acquisition of 51.97% stake in Selectirente (ENXTPA:SELER) for €69.6 million on March 29, 2019. Under the offer, a total of 0.8 million shares and 0.56 million Oceanes were tendered. As a result of the acquisition, Tikehau and the other members of the concert will own 1.25 million shares representing 81.03% shares in Selectirente and 0.13 million Oceane representing 97.49% of the outstanding OCEANE.