CVC Capital Partners VII, LP, managed by CVC Capital Partners Limited, Evolem and the management of April SA entered into exclusive negotiations to acquire 65.13% stake in April SA (ENXTPA:APR) from Evolem for approximately €590 million on December 29, 2018. The planned transfer would be made at a price of €22 per share and could be subject to two downward adjustments via: the deduction of any dividend paid out or planned prior to the completion of the transfer of Evolem’s equity stake and the deduction of the cost incurred by APRIL at the date of transfer of the controlling block held by Evolem, subject to a €10 million deductible, in connection with the proposed tax reassessment from the French tax administration, following investigations on the territoriality of the reinsurance business conducted by Axeria Re, its subsidiary in Malta. On January 28, 2019, an agreement for the transaction was signed. In accordance with applicable regulations, if the deal is closed, the buyers will file a simplified public tender offer for the remainder of APRIL’s share capital at the same price as that paid to Evolem. The transaction is subject to regulatory approvals and approval from European Commission. The deadline for approval from European Commission is March 4, 2019. As of February 25, 2019, the transaction is approved by European Commission. The transaction is expected to complete in the second quarter of 2019. Mayer Brown LLP acted as the legal advisor to CVC Capital Partners Limited. Hubert Segain, Laurence Vincent, Camille Lartigue, Stevenn Devaux, Céline Le Bot, Sophie Brezin, Elizabeth Debregeas, Sergio Sorinas, Marie Louvet and Bruno Knadjian of Herbert Smith Freehills served as legal advisors to April on the transaction. Fabrice de La Morandière, Louis Prades, Pierre Thomet, Jacek Urban, Vianney Guillet de Chatellus, Zoé Giovanetti, Baptiste Fondeur, Edward Aldred, Rohan Saha, Kathryn Merryfield, Lauren Hanley, Tianzi Ye, Valérie Morel, Marc Perrone, Ngoc-Hong Ma, Louis Degeorges Sonia Cissé, Damien Baud, Abdel Abdellah, Simon Corbineau-Picci, Hélène-Oriane Jeandot,Tom Chanseau and Sterling Darling of Linklaters LLP acted as legal advisor to CVC Capital Partners. Caroline Lan and Jean-François Louit of Gide Loyrette Nouel A.A.R.P.I. acted as legal advisors to the transaction. CVC Capital Partners VII, LP, managed by CVC Capital Partners Limited, Evolem and the management of April SA completed the acquisition of 64.91% stake in April SA (ENXTPA:APR) from Evolem for approximately €570 million on June 13, 2019. The acquisition was made at an offer price per share of €21.60 per share, following downward adjustments. As a result of the transaction, CVC Capital, Evolem and the management of April holds 64.91% stake in April. The transaction has received regulatory approval in France and abroad.