Sihold NV("Bidder") made an offer to acquire remaining 34.1% stake in Sioen Industries NV (ENXTBR:SIOE) for approximately €150 million on January 26, 2021. Under The terms of transaction, Sihold will acquire 6.7 million shares at €23 per share. The Bid Price will be paid no later than the tenth Working Day following the announcement of the results of the Initial Acceptance Period. As of February 12, 2021, Sihold increased the bid price to €27 per share. KBC Bank has confirmed that the funds necessary for the payment of all Shares under the Bid are available in the form of an irrevocable and unconditional credit facility. The Acceptance Forms must be lodged directly or through a financial intermediary with the counters of KBC Bank and CBC Banque or with the KBC Securities centralized paying agent bank. Transaction is subject to few conditions which are if the Bidder, together with its Affiliated Persons, collectively own at least 95% of the shares in Sioen Industries then it must launch a simplified squeeze-out merger. Mandatory reopening of the Bid (if the Bidder, together with its Affiliated Persons, owns 90% following the Bid but cannot proceed with a simplified squeeze-out). Another one is if during the period prior to the date on which the results of the Initial Acceptance Period are announced the closing quote of the BEL-20 index is not decreased by more than 10% compared to the closing quote of the BEL 20-index on the day prior to the date of the announcement of the Bid. If the Bidder decides not to withdraw the Bid if the closing quote is less than 3,253.46 points and the closing quote subsequently exceeds this level, the Bidder will no longer be able to invoke this previous and temporary decrease in the BEL 20- index. Any decision by the Bidder to maintain the Bid during a period where the closing quote of the BEL 20-index has temporarily fallen below 3,253.46 points, does not affect the right of the Bidder to invoke the condition and thus withdraw the Bid if, after a rebound, the closing quote of the BEL 20- index would subsequently fall below 3,253.46 points again. The initial acceptance period will commence on January 28, 2021 and close on February 18, 2021. As of February 12, 2021, due to the increased bid price the acceptance period is extended by six business days till February 26, 2021. As of March 31, 2021, Sihold will reopen the bid from April 8, 2021 up to and including April 27, 2021. Sihold NV has appointed Degroof Petercam Corporate Finance NV as an independent expert to prepare a valuation report. KBC Securities NV acted as financial advisor to Sihold NV.