SARIA SE & Co. KG reached an agreement to acquire Devro plc (LSE:DVO) from Rohan August Cummings, Stephen Paul Good, Rutger Albert Helbing, Veronica Lesley Jackson, Malcolm Stuart Swift, Devro Directors and other shareholders for approximately £530 million on November 25, 2022. The offer price per share is 316.1 pence in cash. As of February 16, 2023, The Offer price has been increased to £3.2. The acquisition will be effected by way of a court-sanctioned scheme of arrangement. The cash consideration will be funded by SARIA'S existing resources. SARIA has undertaken to pay a break fee to Devro of £10.8 million. SARIA does not intend to make any material changes to the balance of skills and functions of employees and management of the Devro Group.

The Devro Directors intend to unanimously recommend the scheme. The scheme will be subject to approval of a majority Devro' shareholders at the Court Meeting and at the General Meeting, the sanction of the scheme by the Court, CMA approval, Austrian Competent Authorities approval, applicable requirements of the Takeover Code, the Panel, the London Stock Exchange and the FCA. As of April 13, 2023, the transaction has received Court approval. Devro Directors holding total 392,346 Devro shares, representing approximately 0.2% stake have irrevocably undertaken to accept the scheme. The scheme is expected to become Effective before the end of Q3 2023. As of April 13, 2023, the transaction is expected to be effective on April 14, 2023.

Travers Smith LLP is acting as legal adviser to SARIA. Clifford Chance LLP and Shepherd and Wedderburn is acting as legal adviser to Devro. Dwayne Lysaght and Karim Taha of J.P. Morgan Cazenove acted as financial advisor to SARIA Nederland B.V. and Jon Raggett and Duncan Skailes of PwC acted as Financial Adviser to SARIA. Richard Shaw, Matt Knott and James Cliffe of Lazard acted as Financial Adviser to Devro. Computershare acted as Devro's registrars.

SARIA SE & Co. KG completed the acquisition of Devro plc (LSE:DVO) from Rohan August Cummings, Stephen Paul Good, Rutger Albert Helbing, Veronica Lesley Jackson, Malcolm Stuart Swift, Devro Directors and other shareholders on April 14, 2023. At the request of the Devro Plc, the securities have been cancelled from admission to trading on London Stock Exchange with effect from April 14, 2023.