Disal S.A. agreed to acquire 90.95% stake in Colorin Industria de Materiales Sinteticos S.A. (BASE:COLO) from Cromology SAS and other shareholders for ARS 63 million on January 16, 2018. The transaction includes Colorin's debts. As of January 19, 2018, Disal launched an obligatory tender offer to acquire approximately 11.2 million ordinary shares, representing 90.9529% at ARS 7.42 in cash per share for ARS 83.1 million. The effectiveness of the offer is not conditional upon minimum or maximum acceptance of shares. As on January 26, 2018, the terms of the offer were revised. Disal is now offering ARS 15.7 per share in cash for the 11.2 million ordinary shares. The tender offer will have a validity of 25 days from the CNV authorization, which was requested on January 26, 2018 and which is still pending.