Edenred SA (ENXTPA:EDEN) exercised an option to acquire an additional 17% stake in UNION TANK Eckstein GmbH & Co. KG from two founding families for €83 million on January 20, 2017. Post the acquisition, Edenred will hold 51% stake in UNION TANK and UNION TANK will be fully consolidated in Edenred's financial statements as of January 1, 2017. Post the completion of the transaction, UNION TANK's minority shareholders will have put options in Edenred's favor covering the remaining 49% of capital. The transaction has been approved by the relevant competition authorities and will be finalized in the next few days. The acquisition is expected to have an accretive impact of around 5% on 2017 net profit.