Oep 14 Cooperatief U.A. made a voluntary takeover bid to acquire 81.2% stake in Techedge S.p.A. (BIT:EDGE) from Techies Consulting S.L., Edoardo Narduzzi, Masada and others for approximately €110 million on July 27, 2020. Oep 14 Cooperatief U.A. will pay €5.4 per share. As of October 26, 2020, the bid price was increased to €5.7 per share. In a related transaction, OEP 14 Coöperatief U.A. eneterd into an agreement to acquire 18.77% stake in Techedge S.p.A. from Masada S.R.L. and Edoardo Narduzzi for €26.1 million on July 26, 2020. The transaction takes place in agreement with the founder of the company Edoardo Narduzzi, holder of 1.4%, the shareholder Masada Ltd owner of 17.4% who will sell the equity investment to One Equity Partner outside the public tender. Techies Consulting S.L. has undertaken to bring the securities in acceptance of the offer. Therefore the offer relates to 81.2% of the capital. The transaction is financed by €120 million senior secured floating notes due by 2025. The deal is aimed at delisting Techedge. On September 16, 2020, transaction was approved by the Commissione Nazionale per le Società e la Borsa. The tender offer commences from September 25, 2020 to October 23, 2020 and payment date is on October 30, 2020. As of October 26, 2020, the condition on the threshold of effectiveness was lowered to 50% plus an action compared to the initial one by 66.67%. As of October 26, 2020, the offer is expected to close on November 6, 2020. Mediobanca acted as financial advisor and Nicola Asti, Francesco Lombardo, Gian Luca Zampa and Ermelinda Spinelli of Freshfields acted as legal advisors for Oep 14 Cooperatief U.A. Maviglia & Partners studio acted as legal advisor for minority shareholders Edoardo Narduzzi, Masada and Techies Consulting.