N.V. Exploitatie Maatschappij Van Puijenbroek made an offer to acquire remaining stake in Batenburg Techniek N.V. (ENXTAM:BATEN) for €30.5 million in cash on September 21, 2015. N.V. Exploitatie will acquire remaining shares at an offer €19.5. The transaction will not foresee any changes in the composition of its management and supervisory boards as a result of the bid. The acquisition will be funded from own financial resources and a loan with NIBC Bank.

The bid will be declared unconditional regardless of the percentage of shares tendered, the investor said, adding it has sufficient financial means to meet all obligations around the bid. As on October 14, 2015, N.V. Exploitatie submitted a request for review and approval of its offer memorandum with the Netherlands Authority for the Financial Markets. As on November 2, 2015, shareholders of Batenburg Techniek will be able to offer their shares under the takeover bid of VP Exploitatie from November 3 through December 30, 2015.

Michael Schouten, Bernard Roelvink, Elmer Veenman, Niels Wolswijk and Lútsen de Vries of De Brauw Blackstone Westbroek acted as legal advisor and Khalid Bakkali, Ernst Berger and Lionel Uijttenhove of NIBC Bank acted as financial advisor to Exploitatie. AXECO Corporate Finance B.V acted as financial advisor to Batenburg Techniek in the transaction.