Taiwan Cement Corp. (TSEC:1101) entered into definitive agreement to acquire 60.5% stake in ENGIE Eps S.A. (ENXTPA:EPS) from GDF International S.A. for approximately £130 million on April 19, 2021. Taiwan Cement Corp. will acquire 7.72 million shares at £17.1 per share. The transaction will be financed through bank loan drawn by Taiwan Cement (Dutch) Holdings B.V. which is wholly owned by Taiwan Cement Corp. Upon completion of the transaction, a mandatory tender offer will be launched by Taiwan Cement Corp. for remaining stake of ENGIE Eps S.A. The transaction has been approved by the board of Taiwan Cement and is subject to various conditions including approvals from Investment Commission under the Ministry of Economic Affairs of Taiwan and the Taiwan Fair Trade Commission, as well as the Italian Golden Powers. The transaction is expected to be completed in the third quarter of 2021. Chih-Lung of Crowe (TW) acted as accountant to Taiwan Cement Corp. Citigroup Inc. acted as financial advisor to Taiwan Cement Corp. Lazard Ltd acted as financial advisor to ENGIE Eps S.A. BDGS Associés and Pierre Tourres, Bertrand Sénéchal and Pierre Guillot of Linklaters LLP (France) acted as legal advisors to ENGIE Eps S.A. Gwen Wong of Sullivan & Cromwell (Hong Kong) LLP, Olivier de Vilmorin and Brieuc Apffel Nicolas de Boynes of Sullivan & Cromwell LLP acted as legal advisors for Taiwan Cement.

Taiwan Cement Corp. (TWSE:1101) completed the acquisition of 60.5% stake in ENGIE Eps S.A. (ENXTPA:EPS) from GDF International S.A. on May 11, 2021. Taiwan Cement finalized the transaction on July 20, 2021. The new company name, New HOrizons Ahead (NHOA), has also came into effect.