Bain Capital Europe Fund IV, L.P. of Bain Capital Private Equity, LP and Sixth Cinven Fund (No.1) Limited Partnership, Sixth Cinven Fund (No.2) Limited Partnership, Sixth Cinven Fund (No.3) Limited Partnership, Sixth Cinven Fund (No.4) Limited Partnership of Cinven Capital Management (Vi) Limited Partnership Incorporated made a binding voluntary public takeover offer to acquire STADA Arzneimittel Aktiengesellschaft (DB:SAZ) from a group of investors for €4.1 billion on July 10, 2017. As reported, Bain Capital and Cinven Partners offered a price of €65.53 per share of STADA Arzneimittel Aktiengesellschaft. An additional dividend of €0.72 per share will be paid. The deal will be financed from €2.6 billion of equity funding. In addition, deal will be financed from external financing arrangements of €3.2 billion, consisting of €1.7 billion of term loans, around €1.1 billion of high yield bonds and a €400 million revolving credit facility to be provided by with Barclays Bank Plc, Citigroup Global Markets Limited, Commerzbank AG, Deutsche Bank AG, London Branch, ING Bank, Jefferies Finance Europe, J.P. Morgan Limited, Nomura Bank International Plc, Societe Generale SA, Frankfurt Branch and UBS Limited. The offer has a minimum acceptance threshold of 63%. The offer will have an acceptance period of four weeks. If the bidders hold at least 95% of the share capital after the end of additional acceptance period, the bidders will be entitled to submit application for squeeze out of the remaining STADA shares. The offer is subject only to approval by anti-trust authorities in Montenegro, which the bidders expect shortly. The approvals by the European Commission as well as anti-trust authorities in Serbia, Turkey, Macedonia, Ukraine, and Russia applied for and now granted as part of the original offer by the bidders on April 27, 2017 are valid for the renewed offer. In this regard, the already granted approvals of the European Union and China are still under investigation by the bidders. The renewed offer was made following approval by German Federal Financial Supervisory Authority (BaFin) of the exemption from the one-year exclusion period for the submission of a renewed offer. German Federal Financial Supervisory Authority approved the publication of the offer. On July 25, 2017, Executive Board and Supervisory Board of STADA recommend accepted the renewed takeover offer by Bain Capital and Cinven. Ferdinand Oetker, Rolf Hoffmann, Birgit Kudlek, Tina Müller and Gunnar Riemann have decided to step down from their positions as members of the Supervisory Board, effective as of the end of September 25, 2017. On August 16, 2017, 34.1% stake in STADA Arzneimittel Aktiengesellschaft has been tendered. As of August 18, 2017, minimum threshold of 63% stake for the offer has been received. A further acceptance period of two weeks is announced and will commence on August 19, 2017 and will expire on September 1, 2017. As of September 6, 2017, after the end of the additional acceptance period, 63.87% of all outstanding shares of STADA have been received. As on September 8, 2017, 40.7 million shares of Stada were attributed to the purchasers. As of September 6, 2017, closing of the transaction is expected to take place in the week ending September 15, 2017. Barclays Capital acted as financial advisor to Bain Capital. Perella Weinberg Partners LP and Deutsche Bank AG acted as financial advisors while Christoph Seibt, Natascha Doll, Katrin Gaßner, Simon Schwarz, Jörg-Peter Kraack, Georg Guntrum, Vera Barthel-Westphal, Tobias Pukropski and Sabrina Kulenkamp of Freshfields Bruckhaus Deringer LLP and Anna Wilcken, Graciela Hoffmann, Christoph Dengler, Marc Blaha, Ines Meyer Unglaub, Leslie Iltgen, Kay Reubelt, Svenja sign farmhand and Frank rope maker of InHouse Law Firm acted as legal advisors to STADA. Bernd Mayer, Lutz Zimmer, Jens König, Michael Albrecht, Damien Simonot, Nadine Kari, Romy Kampmann and Philip Heske of Skadden, Arps, Slate, Meagher & Flom LLP acted as the legal advisors for the supervisory board of STADA. Evercore Partners Inc. acted as financial advisor to Stada's supervisory Board. BNP Parbas Securities Services SCA acted as settlement agent for the bidders. Jörg Kirchner, Benjamin Leyendecker, Achim Herfs, Anna Schwander, Christine Kaniak, Wolfgang Nardi, Oded Schein, James Learner, Valerie Goldstein, Gavin Gordon, Neel Sachdev, Stephen Lucas, Christopher Shield, Daniel Borg, Matthew Merkle, Sarah Jordan, Emma Flett, Dulcie Daly, Mark Aschenbrenner, Sebastian Häfele, Maximilian Heufelder, Daniel Hiemer, Katharina Hohmann, Thomas Krawitz, Alexander Längsfeld, Marlene Ruf and Isabel Rutloff of Kirkland & Ellis acted as legal advisors for Bain Capital and Cinven. Jefferies International Limited acted as financial advisor for Bain Capital and Cinven. Michael Vogel, Hamed Souici, Jan-Ole Burchert, Christian Rinke, Manuel Wall and Gregor Kaden of Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft acted as an accountant to Bain Capital and Cinven. Macquarie Capital acted as financial advisor for Bain Capital and Cinven. Andreas Fuechsel of DLA Piper acted as a legal advisor to Active Ownership Capital in this transaction. Andreas Löhdefink of Shearman & Sterling LLP acted as legal advisor to undisclosed client as shareholder in STADA Arzneimittel AG. UBS Financial Services acted as financial advisor to Bain Capital and Cinven Capital.