Fosun International Limited (SEHK:656) made an offer to acquire remaining 64.7% stake of Tom Tailor Holding SE (XTRA:TTI) from Dorval Asset Management, Farringdon Capital Management, Duke University and others for €56.2 million on December 21, 2018. The offer per share is €2.26, to be paid in cash. In a related deal, Fosun International Limited has agreed to subscribe for additional shares of Tom Tailor Holding SE. As on December 21, 2018, European Commission was notified for the deal. As on January 29, 2019, European Commission approved the transaction. As of February 26, 2019, the offer price has been revised to €2.31 per share. As of February 27, 2019, Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) also joined the transaction. Shanghai Yuyuan will acquire 29.99% stake, constituting 12.7 million shares, in the transaction and any shares more than 12.7 million shall be acquired and paid by Fosun International Limited. The transaction is still subject to the approval of shareholders of Shanghai Yuyuan. The Board of Shanghai Yuyuan approved the Shanghai Yuyuan's proposal on the acquisition. The deal is approved by shareholders of Shanghai Yuyuan Tourist at extraordinary general meeting held on March 15, 2019. The period for acceptance of the offer begins from April 1, 2019 to June 6, 2019. The acceptance period may be extended. The additional acceptance period is expected to begin on June 13, 2019 and to expire on June 26, 2019. On March 29, 2019, the transaction was approved by the Federal Financial Supervisory Authority. As per the statement issued on April 18, 2019, Management Board and the Supervisory Board of Tom Tailor refrain from issuing a recommendation regarding the acceptance or non-acceptance of the offer.

Laurenz Wieneke, Julian Schulze De la Cruz, Till Kosche, Andrea Zwarg, Fabian Badtke, Bärbel Sachs, Peter Stauber, Martin Gliewe, Philip M. Schmoll, Dirk Buken, Lorenz Jarass, Lisa Schmitt, Michael Schuhmacher and Max Helleberg of Noerr LLP acted as legal advisor to Fosun Group. Commerzbank AG acted as financial advisor to Fosun International Limited. Lazard & Co. GmbH acted as fairness opinion provider for Management Board and the Supervisory Board of Tom Tailor.

Fosun International Limited (SEHK:656) and Shanghai Yuyuan Tourist Mart Co., Ltd. (SHSE:600655) completed the acquisition of 54.63% stake in Tom Tailor Holding SE (XTRA:TTI) from Dorval Asset Management, Farringdon Capital Management, Duke University and others for €53.4 million on June 26, 2019. Under the offer, 23.1 million shares of Tom Tailor were validly tendered. All the transaction conditions have been satisfied.