French private equity house PAI Partners provides update on proposed acquisition of Ontex Group

PARIS, July 10, 2018-

This press release is issued by PAI Partners SAS (“PAI”) at the request of the Belgian Financial Services and Markets Authority (FSMA) pursuant to article 8, §1 of the Royal Decree of 27 April 2007 on takeover bids to supplement the press release of Ontex Group of 6 July 2018.

With reference to the press release of Ontex Group of 6 July 2018, PAI confirms that it had submitted to the board of directors of Ontex Group a non-binding all-cash proposal to acquire 100% of the share capital of Ontex Group. Following the rejection of the initial non-binding proposal by Ontex Group, PAI increased, on 6 July 2018, the price of its non-binding proposal to EUR 27.5 per share.

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