Modis International AG made an offer to acquire remaining 35.28% stake in AKKA Technologies SE (ENXTPA:AKA) for approximately €260 million on February 24, 2022. In related transactions, Adecco Group AG acquired 59.9% stake in AKKA Technologies SE from Swilux SA and Ricci family on February 23, 2022. The transaction is expected to complete in H1 2022.

Modis International AG completed the acquisition of remaining 35.28% stake in AKKA Technologies SE (ENXTPA:AKA) on April 20, 2022. As a result, the Adecco Group will hold a total of 96.97% of the outstanding shares and 94.40% of the outstanding convertible bonds issued by AKKA. The payment of the bid price is expected to take place on or about April 22, 2022. As the Adecco Group holds more than 95% of the outstanding shares, it has decided to proceed with a simplified squeeze-out bid. The acceptance period will start on April 21, 2022 and end on May 11, 2022. The results of the acceptance period of the squeeze-out bid are expected to be published on or about May 12, 2022.