Sika AG (SWX:SIKA) offered to acquire ParexGroup SA from CVC European Equity Partners V, L.P., managed by CVC Capital Partners Limited, for an enterprise value of CHF 2.5 billion on January 8, 2019. The financing of the transaction is secured by a bridge loan facility committed by UBS and Citi. As of January 22, 2019, Sika announced the launch of an offering of CHF 1.3 billion subordinated mandatory convertible notes due 2022. Sika intends to use the net proceeds from the offering to fund the acquisition of Parex and for general corporate purposes. In 2018, ParexGroup SA generated sales of CHF 1.2 billion. Completion of transaction is subject to French works council consultation process and regulatory approvals. The transaction was notified to the EU Commission on February 20, 2019. The provisional deadline for the decision has been set to March 27, 2019. As on March 27, 2019, the transaction was approved by the EU commission. The acquisition is expected to close in Q2/Q3 2019. The acquisition is expected to be accretive to Sika's earnings per share from the first full year post closing. Deutsche Bank acted as financial advisor to CVC Capital Partners Limited. Laurent Baril, Guillaume Basini and Vincent Thiebaud of Rothschild & Co. acted as financial advisors to Sika AG. David Aknin of Weil, Gotshal & Manges acted as legal advisor to CVC Capital Partners. Alyssa Auberger, Guillaume Nataf, Solenne Gilles, Florian Kästle, Alan Zoccolillo, John Watson, Nicolas Kredel, Markus Brösamle, Clara Dust, Michelle Heisner, Jason Kramer, Anja Palatzke, Jessica Wicha, Adrian Gonzales Maltes, Madalina Asandului, Noémie Devico, Sarah Belahcen, Michael Foundethakis, Gonzague Basso, Paul Chossegros, Denise Broussal, Marie-Amélie Roger, Hasnaa Sbai, Nathalie Marchand, Magalie Dansac, Pauline Celeyron, Mary De Nayves, Elsa Lesclide, Claude Christien, Alex Dowding, Laurianne Coq, Oriane Prud'homme, Manuella Roblet, Marie-Laëtitia, Michael Perche, Roman Roussel, Hervé Jégou, Kelly Ruster and Inès Jousset of Baker McKenzie acted as legal advisors to Sika. UBS Group AG acted as financial advisor to Sika. UBS is acting as global coordinator and joint bookrunner in context of raising financing through notes. Citigroup acted as joint bookrunner alongside UBS. Sika AG (SWX:SIKA) completed the acquisition of ParexGroup SA from CVC European Equity Partners V, L.P., managed by CVC Capital Partners Limited on May 23, 2019. All employees of Parex will move to Sika.