Archives March 2026

Business Wire India

Dr. Rasha Kelej, CEO of Merck Foundation, has been recognized among the “100 Most Impactful Voices 2026” by ABCD Africa, a prestigious recognition celebrating influential women of African descent who are using their platforms to inspire change, amplify important social conversations, and drive meaningful impact across communities. The list features prominent women leaders and changemakers from 54 African countries and also includes the President of Tanzania. The list came out on the occasion of International Women’s Day 2026.

This latest recognition adds to a series of international accolades received by Dr. Rasha Kelej for her leadership and impactful social initiatives. She was recently named among the “100 Most Influential Africans 2025” by New African Magazine and has also been recognized among the “100 Most Influential African Women” by Avance Media for the seventh consecutive year, alongside Africa’s prominent leaders including Presidents, First Ladies, and Prime Ministers. These recognitions highlight her unwavering commitment to women’s empowerment, girls’ education, and improving access to quality and equitable healthcare across Africa.

Expressing her gratitude, Senator Dr. Rasha Kelej (Ret.), CEO of Merck Foundation, said, “I am deeply honoured to receive this recognition and to be included in the ‘100 Most Impactful Voices 2026’ list. I sincerely thank ABCD Africa for acknowledging my work over the past 14 years to build healthcare capacity, transform the patient care landscape, break infertility stigma, empower women, and support girl education in Africa and beyond. This recognition is truly very special to me, and it inspires me to continue my efforts to make a meaningful difference in the lives of people.

I also congratulate all the deserving women who have been recognized on this list. Together, we will continue to use our voices to inspire positive change and create a better future for our communities.”

Under Dr. Kelej’s leadership, Merck Foundation has transformed the patient care landscape and built healthcare capacity across Africa and other developing regions.

“We have provided over 2500 scholarships for healthcare providers from more than 52 countries in 44 critical and underserved medical specialties, helping to improve access to quality and equitable healthcare,” shared Dr. Kelej.

Dr. Rasha Kelej is also the creator of the “Merck Foundation More Than a Mother” campaign, a pioneering movement that aims to empower infertile and childless women through access to information, education, health and change of mindset. Dr. Kelej works closely with more than 33 African and Asian First Ladies who are the Ambassadors of “Merck Foundation More Than a Mother” to lead Merck Foundation programs in their countries. “I really enjoy working with dear sisters, the First Ladies of Africa and Asia, we are not just partners, we are more than friends, I enjoy our sisterhood and respect it,” Dr. Kelej emphasized.

Moreover, Dr. Kelej is a strong advocate for education as one of the most critical areas of women’s empowerment. Therefore, in partnership with African First Ladies, Merck Foundation has provided, year to date, more than 1200 annual scholarships to high-performing and underprivileged African schoolgirls from 19 countries, enabling them to complete their studies and reach their potential. The program is actively running across several African countries, including Botswana, Burundi, Cabo Verde, Central African Republic, Democratic Republic of the Congo, Gabon, The Gambia, Ghana, Kenya, Liberia, Malawi, Namibia, Nigeria, São Tomé and Príncipe, Tanzania, Togo, Zambia, Zimbabwe and others.

Dr. Rasha Kelej has established the “Art and Fashion with Purpose” community to address critical health and social issues, including breaking infertility stigma, supporting girl education, ending female genital mutilation and child marriage, stopping gender-based violence, and raising awareness about diabetes, hypertension, and cancer. She has launched several community awareness programs including Health Media Trainings, Songs, Children Storybooks, Animation Films, Awards for best Media, Song, Film and Fashion design, and also a Pan-African TV program “Our Africa”.

Overview of Merck Foundation’s initiatives and impact under the leadership of Dr. Rasha Kelej:

Merck Foundation is transforming the Patient care landscape and making history together with their partners in Africa, Asia, and beyond, through:

• 2500+ Scholarships provided by Merck Foundation for healthcare providers from 52 Countries in 44 critical and underserved medical specialties.

Merck Foundation is also creating a culture shift and breaking the silence about a wide range of social and health issues in Africa and underserved communities through:

• 4000+ Media Representatives from more than 42 countries trained by Merck Foundation to better raise awareness about different social and health issues
• 8 Different Awards launched annually for best Media coverage, Song, Films, and Fashion.
• Around 30 songs to address health and social issues, by local singers across Africa in English, French, Portuguese, and local languages.
• 9 Children’s Storybooks in four languages – English, French, Portuguese, and Swahili
• 6 Awareness Animation Films in five languages – English, French, Portuguese, Spanish and Swahili to raise awareness about breaking infertility stigma, supporting girl education and prevention and early detection of Diabetes, Hypertension & Cancer.
• Pan African TV Program “Our Africa by Merck Foundation” addressing Social and Health Issues in Africa through “Fashion and ART with Purpose” Community.
• 1200+ Scholarships provided annually to high performing but under-privileged African schoolgirls from 19 countries, to help them to complete their studies and empower them to reach their full potential.
• 15 Social Media Channels with more than 8.5 Million Followers.

 

Click the link below to Download Merck Foundation App

https://www.merck-foundation.com/MF_StoreRedirection

 

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Website: www.merckfoundation.com

Business Wire India

Redslim, a specialist in end-to-end data management solutions and an Astorg portfolio company, today announced its expansion into the Asia-Pacific region and the appointment of Kyriakos Zannikos as Regional Director, APAC. The move marks an important milestone in Redslim’s global growth strategy and brings the company closer to clients operating in one of the world’s fastest-growing and most data-driven consumer markets.

 

As global consumer brands accelerate digital transformation and AI adoption, many organizations still struggle with fragmented data ecosystems spanning multiple agencies, markets and datasets. These challenges are particularly pronounced in Asia-Pacific, where diverse market structures and rapid growth create complex data environments.

 

Redslim helps organizations transform fragmented market information into valuable data assets, empowering clients to make confident decisions and unlock the full value of their data. By building strong data foundations, Redslim supports clients as they modernize their data infrastructure and prepare for the next generation of analytics and AI-driven capabilities.

 

Expanding into Asia-Pacific strengthens Redslim’s ability to support global clients operating in the region, particularly across fast-moving consumer goods (“FMCG”), consumer healthcare (“CHC”), beauty and luxury sectors. Establishing a dedicated regional presence will allow Redslim to work closely with local teams and partners while maintaining the high global standards that underpin its services.

 

Kyriakos Zannikos will step into the role of Regional Director, APAC, to lead this next phase of growth. An entrepreneur with deep experience across the data ecosystem and a track record of working with leading global beauty and healthcare brands, Kyriakos brings valuable insight into the region’s competitive landscape and the operational challenges faced by global organizations.

 

Kyriakos Zannikos, Regional Director, APAC, commented, “Asia-Pacific is one of the most forward-looking and data-driven regions in the world. Companies here are scaling fast and investing heavily in digital transformation and AI. By combining Swiss precision with strong regional proximity, Redslim is well positioned to support organizations building scalable, future-ready data ecosystems.”

 

“Expanding into Asia-Pacific is a key step in our growth journey to becoming a truly global company,” said Alberto Alcaniz, Co-CEO at Redslim. “As our clients strengthen their regional focus, we are committed to investing where they invest. Establishing a dedicated Asia-Pacific presence brings us closer to our clients, enhances our support on the ground, and reinforces our commitment to grow alongside them in one of the most dynamic regions.”

 

The expansion represents an important milestone in Redslim’s development following Astorg’s Mid-Cap investment in November 2024. Astorg partners closely with management teams to scale specialized technology and services platforms globally, supporting Redslim as it strengthens its position as a trusted data management partner for multinational consumer brands.

 

Charles-Hubert Le Baron, Partner, Head of Software & Technology for Astorg Mid-Cap, said:

 

“Redslim exemplifies the type of specialized technology platform we seek to support in the software and data ecosystem. Positioned at the intersection of data management, analytics and AI enablement, the company addresses a critical need for organizations seeking to structure and activate their data at scale. Asia-Pacific is an important step in Redslim’s continued development as a global platform, further strengthening its ability to support multinational consumer brands operating across increasingly complex data environments.”

 

About Redslim

 

Redslim streamlines data management for teams faced with the request to leverage fragmented datasets for critical decision making. Specialized in data engineering, harmonization and BI, their teams manage data from over 50 agencies and covering more than 55 countries. Their technology-enabled services optimize data consumption for more than 30 global organizations. Active for more than 10 years, Redslim is constantly innovating their solutions to always meet the evolving needs of their clients and data partners. Learn more at www.redslim.net and follow Redslim on LinkedIn.

 

About Astorg

 

Astorg is a leading pan-European private equity firm with over €23 billion of assets under management. Astorg works with entrepreneurs and management teams to acquire market leading international companies headquartered in Europe or the US, providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Enjoying a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body, Astorg has valuable industry expertise in healthcare, technology & software, and business services companies.

 

Headquartered in Luxembourg, Astorg has offices in London, Paris, New York, Frankfurt and Milan.

 

For more information about Astorg: Astorg.com | Follow Astorg on LinkedIn.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311321310/en/

 

Business Wire India

• The motorola edge 70 fusion goes on sale today at 12 pm onwards on Flipkart, Motorola.in, and leading retail stores across India at an effective price of just Rs. 24,999*
• The smartphone features the World’s 1st 50MP Sony-LYTIA™ 710 camera with OIS, along with a 13MP Ultra-Wide + Macro Vision lens and 32MP front camera, delivering pro-grade AI photography and 4K video across lenses
• motorola edge 70 fusion introduces an all-new design with luxurious fabric-inspired textures and Pantone™ curated colours, creating a bold and refined aesthetic with premium in-hand comfort
• The device features India’s only 144Hz 1.5K True Colour Quad-Curved display, a 6.78” Super HD Extreme AMOLED panel with 5200 nits peak brightness, HDR10+, and Pantone™ colour and SkinTone™ validation
• The smartphone packs a massive 7000mAh silicon-carbon battery delivering up to 52 hours of battery life, supported by 68W TurboPower™ fast charging
• Powered by the Snapdragon® 7s Gen 4 Mobile Platform, the device offers powerful AI capabilities with moto AI, Google Gemini, Microsoft Copilot, and Perplexity, along with up to 12GB RAM, 256GB storage, and vapor chamber cooling
• Built for durability, the smartphone features MIL-STD-810H military-grade certification, IP68 + IP69 protection, and Corning® Gorilla® Glass 7i for enhanced resistance against dust, water, and extreme conditions

 

Motorola, a global leader in mobile technology and innovation and India’s leading AI smartphone brand#, today announced the sale of the motorola edge 70 fusion, bringing breakthrough camera innovation, immersive visuals, intelligent AI experiences, and massive battery life to the mid-premium smartphone segment. Starting today, consumers can purchase the device from 12PM onwards on Flipkart, Motorola.in, and leading retail stores across India, at an effective launch price starting at just Rs. 24,999*.

The motorola edge 70 fusion introduces a major leap in smartphone photography with the World’s 1st 50MP Sony-LYTIA™ 710 camera powered by motoAI. Equipped with Optical Image Stabilization (OIS) and an advanced f/1.8 aperture, the sensor delivers exceptional clarity, improved signal-to-noise performance, and superior low-light photography with brighter highlights and deeper shadows. The system is further enhanced by Pantone™ Validated Colours and Pantone™ SkinTone™ Validation, ensuring accurate and natural colour reproduction. Complementing the main camera is a 13MP Ultra-Wide + Macro Vision camera with a 120° field of view, along with a 32MP front camera, enabling ultra-sharp 4K video recording with Video HDR across cameras and advanced features such as AI Photo Enhancement, Adaptive Stabilization, Horizon Lock, and Hyperlapse.

Blending craftsmanship with modern sophistication, the motorola edge 70 fusion introduces an all-new design with luxurious linen-inspired fabric finishes, delivering a soft, warm texture while maintaining a slim profile at just 7.99mm and a lightweight 193g build. The device features elegantly curved glass that seamlessly merges into the back panel, creating an ergonomic grip and refined aesthetic. It is available in three Pantone™ curated colours — Pantone™ Blue Surf, Pantone™ Country Air, and Pantone™ Silhouette, complemented by distinctive accent camera detailing that enhances its premium visual identity.

The smartphone elevates visual experiences with India’s only 144Hz 1.5K True Colour Quad-Curved Display, delivering cinematic visuals on a 6.78” Super HD+ Extreme AMOLED panel. With HDR10+ certification, 100% DCI-P3 colour gamut, and 10-bit colour depth, the display produces lifelike contrast and vibrant colours. The panel also offers segment-leading 5200 nits peak brightness for exceptional outdoor visibility, while the 144Hz refresh rate ensures ultra-smooth scrolling and gaming. The display is further enhanced by Smart Water Touch, SGS Eye Care Certification, and Corning® Gorilla® Glass 7i protection, while dual stereo speakers with Dolby Atmos® and Hi-Res Audio deliver immersive sound.

Despite its sleek design, the motorola edge 70 fusion houses a massive 7000mAh silicon-carbon battery, engineered to deliver up to 52 hours of battery life on a single charge. The device supports 68W TurboPower™ charging, capable of delivering a full day’s power in just 10 minutes, ensuring users stay connected, productive, and entertained throughout the day.

Powering the device is the Snapdragon® 7s Gen 4 Mobile Platform, designed to deliver faster CPU, GPU, and AI performance for seamless multitasking, gaming, and productivity. Built on the latest architecture, the chipset enables enhanced graphics, smarter on-device AI processing, and efficient power management. With up to 12GB RAM, 256GB storage, advanced vapor chamber cooling, and support for Wi-Fi 6E and 16 5G bands, the smartphone delivers powerful performance and reliable connectivity for demanding everyday tasks.

The motorola edge 70 fusion also introduces moto ai 2.0, bringing intelligent experiences such as contextual suggestions, creative tools, productivity features, and seamless cross-device workflows. Users can choose between motoAI, Microsoft Copilot, Google Gemini, and Perplexity, enabling flexible AI assistance across productivity, creativity, and information discovery.

Built for reliability, the device meets MIL-STD-810H military-grade standards, having passed multiple durability tests for extreme temperatures, humidity, and rugged conditions. With IP68 and IP69 ratings, the smartphone offers the highest level of water and dust protection, capable of withstanding submersion and high-pressure water exposure.

Running on Hello UI based on Android 16, the smartphone promises 3 OS upgrades and 5 years of security updates, along with advanced security and privacy features such as Moto Secure with ThinkShield, Family Spaces, and Moto Unplugged.

Availability:

 

The motorola edge 70 fusion will be available in three storage variants — 8GB RAM + 128GB, 8GB RAM + 256GB, and 12GB RAM + 256GB — and comes in three premium Pantone™ curated colours: Pantone™ Blue Surf, Pantone™ Country Air, and Pantone™ Silhouette, all featuring a luxurious fabric-inspired finish.

 

The device goes on open sale starting 12th March 2026, 12PM onwards on Flipkart, Motorola.in, and leading retail stores across India, at an effective launch price starting at Rs. 24,999*.

 

Offer Details:

Product Name: motorola edge 70 fusion

Launch Price:

8GB + 128GB: Rs. 26,999

8GB + 256GB: Rs. 29,999

12GB + 256GB: Rs. 32,999

Affordability Offer details:

Bank Offer: Rs 2,000 Instant Discount on HDFC, Axis, ICICI & SBI Credit Cards along with No Cost EMI for 3 & 6 months on Axis & SBI Credit Cards and Bajaj Finserv.

Exchange Offer: Flat Rs 2,000 Exchange Bonus on all brands.

Effective Price with Offer:

8GB + 128GB: Rs. 24,999*

8GB + 256GB: Rs. 27,999*

12GB + 256GB: Rs. 30,999*

Operator Offer:

Exclusive Jio SIM Offer: Free access to Google Gemini Pro Plan for 18 months, worth Rs. 35,100

To know more about the product visit: 

Flipkart – https://www.flipkart.com/motorola-edge-70-fusion/p/itm0119095a14fb0?pid=MOBHJ7TXGWKERGJG

Motorola website – https://www.motorola.in/smartphones-motorola-edge-70-fusion/p?skuId=633

Disclaimers:

^ All battery life claims are approximate and based on the median user tested across a mixed use profile (which includes both usage and standby time) under optimal network conditions. Actual battery performance will vary and depends on many factors including signal strength, network and device settings, temperature, battery condition, and usage patterns.

*Price including all offers

~ As Per TechArc India’s Leading AI Smartphone Brand Report 2025.

Business Wire India

Xsolla, a leading global video game commerce company, today released the latest edition of The Xsolla Report, timed to coincide with this week’s activations and collaborations in San Francisco. This edition provides insights from working with thousands of studios to map out where the industry’s biggest opportunities are emerging.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260311021020/en/

 

 

 

The gaming industry remains extraordinarily vibrant, and the playbook for success is changing. Studios that are adapting their commercial strategies, embracing direct-to-player commerce, expanding into high-growth global markets, and leveraging AI to sharpen operations are pulling ahead and building businesses designed to thrive for years to come.

 

“The economics of game development have and will continue to shift and evolve into the future. Budgets have expanded, player acquisition costs have surged, and traditional publishing models are under increasing strain,” said Chris Hewish, President of Xsolla. “We have reached a tipping point where old assumptions no longer hold, and leaders who recognize this shift early will capture disproportionate advantage.”

 

 

“The conversation around direct-to-consumer in gaming has fundamentally changed coming out of multiple regulatory changes,” said Berkley Egenes, Chief Marketing and Growth Officer at Xsolla. “What began as a tactical revenue diversification play has evolved into a strategic imperative for studios to grow and thrive into the future of live-service games.“

 

 

Key Findings From The Xsolla Report Include:

 

 

• Leading game companies are already generating 15–45% of total revenue through D2C web shops, yielding up to 25% more profit per transaction compared to platform-based purchases
• High-growth markets like Turkey (13% CAGR), India (11%), and Southeast Asia (6%) represent the industry’s most exciting expansion opportunities through 2029
• AI is delivering real operational gains, compressing development timelines by roughly 20% and reducing support costs by approximately 40%
• “Platform omnivore” gamers who play across consoles, PC, and mobile now represent 43% of US gamers, up from 30%, creating new pathways for studios to reach players wherever they are
• Titles with sustainable live service models continue to grow, with PUBG: Battlegrounds reaching approximately 75 million Steam users and Roblox on Xbox climbing to nearly 30 million owners
• The April 2025 U.S. court ruling allowing in-app linking to external offers has opened the door for developers to engage players across channels like never before

 

The report also outlines a clear roadmap for what leaders should prioritize next: building for modularity and faster development cycles, investing in owned audience infrastructure, and turning compliance into a competitive advantage as global markets open up.

 

“We’re entering a period where the studios with strong foundational commercial infrastructure will outperform those with superior creative execution alone,” added Egenes. “D2C is becoming a table-stakes requirement for ambitious live-service games, and the studios that treat this moment as strategic will be the ones defining the future of mobile gaming success.”

 

 

The full Xsolla Report is available for download at: xsolla.pro/xsolla-report-v9.

 

 

About Xsolla

 

 

Xsolla is a global commerce company with robust tools and services to help developers solve the inherent challenges of the video game industry. From indie to AAA, companies partner with Xsolla to help them fund, distribute, market, and monetize their games. Grounded in the belief in the future of video games, Xsolla is resolute in the mission to bring opportunities together, and continually make new resources available to creators. Headquartered and incorporated in Los Angeles, California, Xsolla operates as the merchant of record and has helped over 1,500+ game developers to reach more players and grow their businesses around the world. With more paths to profits and ways to win, developers have all the things needed to enjoy the game.

 

 

For more information, visit xsolla.com.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311021020/en/

 

Business Wire India

Canva, the world’s leading all-in-one visual communication platform, today unveiled Magic Layers, a new breakthrough technology that turns any flat design or image into something you can edit, refine, and remix to suit your vision.

 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260311951174/en/

 

 

 

Generative AI has triggered a flood of visual content, but most of it remains locked in static image files. Even small changes can require starting over, with reprompts that can unintentionally alter the entire design.

 

Powered by years of internal research and Canva’s growing investment in its AI development arm, Magic Layers ushers in a new era of editable content, where speed meets true creative control.

 

 

Available in public beta today, it turns AI-generated content into a launchpad, not a locked file, empowering creators to refine, reshape, and perfect every detail.

 

 

How it works

 

 

Magic Layers bridges the gap between AI-generated content and true creative control by turning flat images into structured, editable layers inside the Canva editor. Fixed files are unlocked, becoming brand-ready and scalable design assets. Whether starting with a new idea or an existing design, Magic Layers brings a new level of flexibility to AI-powered content creation:

 

 

• Upload your image, and Canva does the rest:
  • Elements are intelligently separated into individual, movable objects
  • Layout relationships are preserved automatically
  • Text remains live and fully editable
  • Outputs can be refined and iterated without starting over each time

 

• Generate a fully editable design with Canva AI:
  • Go from prompt to refining in the Canva Editor in moments
  • Create visually-rich and on-brand presentations, docs, social posts and more
  • Then, move elements, swap backgrounds, or change fonts, all inside Canva

Magic Layers supports single-page .png and .jpg files in beta, with expanded capabilities in development.

 

For marketing teams refreshing campaigns, small businesses updating product messaging, and creators remixing ideas, what was once a barrier is now a starting point.

 

 

“There’s been an explosion of AI-generated content that has, until now, been a dead end. You’d get a finished image you couldn’t edit, refine, or make your own. We think AI should spark creation, not stop it,” said Cameron Adams, co-founder and Chief Product Officer, Canva. “After a breakthrough from our AI research team, we’re introducing Magic Layers so anyone can take a flat image and turn it into a fully editable design inside Canva. There’s no need to start over, or to figure out the right prompt. Generation is just the beginning – real creative freedom comes from being able to edit without losing momentum.”

 

 

The Technology Behind Magic Layers

 

 

When an image is exported, flattened, or generated by AI, its structure collapses. Text becomes pixels, individual objects merge together, and the design logic that once held everything in place disappears. Until now, editing that image meant starting over.

 

 

While traditional vector tools can trace shapes by converting pixel regions into outlines, they can’t understand what those shapes represent. They can’t distinguish a headline from a background, or identify which elements belong together. Magic Layers was built to solve that problem.

 

 

Instead of simply tracing an image, Magic Layers interprets the design as a whole. It analyzes structure, identifies relationship between elements, restores text as live boxes, and separates components while preserving the original layout. The result is a fully editable design – not just traced shapes, but a set of elements that preserve the intent behind the original creation.

 

 

Canva’s Foundational AI Layer

 

 

Magic Layers is a new capability of the Canva Design Model, the company’s proprietary foundation model, and the first to generate designs that are editable from the start. Since launching in October, the Canva Design Model has generated hundreds of millions of editable presentations, documents, and social posts while also powering Canva’s integrations with ChatGPT, Claude, and Microsoft Copilot.

 

 

Magic Layers begins rolling out today in public beta in the United States, United Kingdom, Canada, and Australia, with global availability to follow. Learn more at www.canva.com/magic-layers.

 

 

About Canva

 

 

Launched in 2013, Canva is the world’s leading all-in-one platform for visual communication and collaboration. Serving enterprises, small businesses, creators, and students in more than 190 countries, Canva combines powerful design tools with proprietary AI research to enable structured, scalable visual communication.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311951174/en/

 

Business Wire India

• Transaction increases MidOcean’s equity exposure to premier Australian LNG project
• Adds incremental uncontracted LNG volumes, enhancing portfolio optimization and marketing flexibility
• Planning future collaborations, exploring further transactions and opportunities with JERA across other assets globally with the aim of creating a future strategic alliance

 

MidOcean Energy (“MidOcean”), a liquefied natural gas (LNG) company formed and managed by EIG, today announced it has entered into definitive agreements with JERA Co., Inc. (“JERA”) to acquire JERA Gorgon Pty Ltd, which holds JERA’s 0.417% interest in the Gorgon LNG project. MidOcean is an existing participant in the Gorgon LNG project, and this transaction increases MidOcean’s interest in Gorgon to 1.417%. The transaction perimeter also includes JERA’s 0.735% interest in the Ichthys LNG project. Subject to the satisfaction of relevant conditions precedent, the interests in Gorgon and Ichthys will be sold to MidOcean, and then the Ichthys interest shall be transferred, subject to the satisfaction of further conditions, to an existing joint venture participant in the Ichthys LNG project.

 

The acquisition increases MidOcean’s equity exposure to a large-scale, long-life, integrated LNG project operated by Chevron, further strengthening its portfolio of high-quality producing assets.

 

In parallel, MidOcean and JERA plan future collaborations, exploring future transactions and opportunities on LNG and adjacent energy transactions globally with the aim of creating a strategic alliance. This reflects a shared objective to pursue disciplined growth and unlock additional sources of value across the LNG value chain.

 

Gorgon LNG is supplied by the Gorgon and Jansz-Io gas fields in the Carnarvon Basin offshore Western Australia and comprises three LNG trains with total nameplate capacity of approximately 15.6 Mtpa. The project includes domestic gas supply and condensate production, supported by extensive offshore and onshore infrastructure on Barrow Island.

 

R. Blair Thomas, MidOcean Chairman and EIG CEO, said:

 

“This transaction advances MidOcean’s strategy to build a scaled, globally diversified LNG company anchored by high-quality assets and counterparties. Increasing our position in Gorgon enhances the quality and durability of our portfolio while expanding our equity exposure to one of the industry’s benchmark LNG projects. Looking ahead, our collaboration with JERA including exploring the establishment of a strategic alliance positions us to pursue additional high-quality opportunities in a disciplined and repeatable way.”

 

De la Rey Venter, CEO of MidOcean, said:

 

“The acquisition adds incremental uncontracted equity volumes, increasing our ability to optimise across our portfolio and capture value through commodity cycles. Gorgon is a high-quality, cash-generative asset with long reserve life and strong operating performance. Deepening our relationship with JERA also strengthens our ability to originate and execute future transactions in the global LNG market.”

 

JERA Senior Managing Executive Officer and Chief Low Carbon Fuel Officer, Mr Ryosuke Tsugaru, said:

 

“Australia remains strategically important to JERA as a trusted and reliable LNG supplier, and we value the longstanding partnerships we have built there. Through our ongoing portfolio optimisation, we are strengthening our ability to support long-term energy security for Australia, Japan and the broader region. JERA looks forward to collaborating with MidOcean Energy across the LNG value chain.”

 

The parties aim to close the transaction during the first half of 2026, subject to customary closing conditions, including regulatory approvals.

 

UBS acted as financial advisor to MidOcean, and White & Case acted as legal advisor.

 

About EIG

 

EIG is a leading institutional investor in the global energy and infrastructure sectors with $25.4 billion assets under management as of December 31, 2025. EIG specializes in private investments in energy and energy-related infrastructure on a global basis. During its 43-year history, EIG has committed over $53.4 billion to the energy sector through 425 projects or companies in 44 countries on six continents. EIG’s clients include many of the leading pension plans, insurance companies, endowments, foundations and sovereign wealth funds in the U.S., Asia and Europe. EIG is headquartered in Washington, D.C. with offices in Houston, London, Sydney, Rio de Janeiro, Hong Kong and Seoul.

 

About MidOcean Energy

 

MidOcean Energy, an LNG company formed and managed by EIG, seeks to build a diversified, resilient, cost- and carbon-competitive global LNG portfolio. It reflects EIG’s belief in LNG as a critical element of a lower carbon, competitive and more secure global energy system. MidOcean Energy has diverse LNG interests, including in Gorgon LNG, Pluto LNG, QCLNG and Peru LNG. The company is headed by De la Rey Venter, a 27-year industry veteran who has held a variety of senior executive roles, including Global Head of LNG for Shell Plc.

 

For additional information, please visit MidOcean Energy’s website at www.midoceanenergy.com or EIG’s website at www.eigpartners.com.

 

 

 

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260311979630/en/

 

Business Wire India

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN, OR AT ANY ADDRESS IN, THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR TO ANY U.S. PERSON (AS DEFINED IN REGULATION S OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT)) OR IN OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT (SEE “OFFER AND DISTRIBUTION RESTRICTIONS” BELOW).

 

 

SES (the “Offeror”) announces today that it is inviting holders of its outstanding €625,000,000 Deeply Subordinated Fixed Rate Resettable Securities issued on 27 May 2021 (ISIN: XS2010028343) (the “Securities”) to tender their Securities for purchase by the Offeror for cash up to the Maximum Acceptance Amount (as defined below) subject to the satisfaction (or waiver) of the New Issue Condition (such invitation, the “Offer”).

 

 

The Offer is being made by the Offeror upon the terms and subject to the conditions contained in the tender offer memorandum dated 11 March 2026 (the “Tender Offer Memorandum”) prepared by the Offeror in connection with the Offer, and is subject to the offer restrictions set out below and as more fully described in the Tender Offer Memorandum. Capitalised terms used but not otherwise defined in this announcement shall have the meanings given to them in the Tender Offer Memorandum.

 

 

Holders are advised to read carefully the Tender Offer Memorandum for full details of, and information on the procedures for participating in, the Offer.

 

 

Summary

 

 

A summary of certain key terms relevant to the Offer appears below:

 

 

Description of the Securities	Coupon of the Securities until the First Reset Date	ISIN / Common Code	Outstanding Principal Amount	First Optional Redemption Date / First Reset Date	Purchase Price	Maximum Acceptance Amount
€625,000,000 Deeply Subordinated Fixed Rate Resettable Securities	2.875 per cent. per annum	XS2010028343 / 201002834	€525,022,000	27 May 2026 / 27 August 2026	99.25 per cent.	An aggregate principal amount to be determined by the Offeror in its sole and absolute discretion and expected to be at least equal to the aggregate principal amount of the New Securities (as defined herein), subject to the right of the Offeror in its sole and absolute discretion to accept more or less than such amount, and to be announced as soon as reasonably practicable after the pricing of the New Securities

 

Rationale

 

The purpose of the Offer and the intended issue of New Securities is, among other things, to proactively manage the Offeror’s layer of hybrid capital. The Offer also provides Holders with the opportunity to sell their Securities ahead of the First Optional Redemption Date and to receive, at the sole and absolute discretion of the Offeror, priority in the allocation of the New Securities, subject to the issue of the New Securities and the selling restrictions that will be contained in the Information Memorandum relating to the New Securities. See “Allocation of the New Securities” below. Securities repurchased by the Offeror pursuant to the Offer will be cancelled following the Settlement Date.

 

 

Purchase Price and Accrued Interest Payments

 

 

The Offeror will, on the Settlement Date, pay for Securities validly tendered and accepted by it for purchase pursuant to the Offer, a cash purchase price equal to 99.25 per cent. of the principal amount of such Securities (€992.50 for each €1,000 in principal amount of the Securities) (the “Purchase Price”).

 

 

The Offeror will also pay an Accrued Interest Payment in respect of Securities accepted for purchase by it pursuant to the Offer.

 

 

In the event of any dispute or controversy regarding the Accrued Interest, the determination of the Offeror shall be conclusive and binding, absent any manifest error.

 

 

Total Amount Payable to Holders

 

 

If the Offeror decides to accept valid tenders of Securities pursuant to the Offer and the New Issue Condition is satisfied (or waived), the total amount that will be paid on the Settlement Date to each Holder that has so tendered its Securities will be the cash amount (rounded to the nearest €0.01, with half a cent rounded upwards) equal to the sum of:

 

 

(a) the product of (i) the aggregate principal amount of the Securities validly tendered and accepted for purchase from such Holder pursuant to the Offer and (ii) the Purchase Price; and

 

 

(b) the Accrued Interest Payment on such Securities.

 

 

Maximum Acceptance Amount and Scaling

 

 

If the Offeror decides to accept any Securities for purchase pursuant to the Offer, it proposes that the aggregate principal amount of Securities it will accept for purchase pursuant to the Offer will be an amount to be determined by the Offeror, in its sole and absolute discretion, which is expected to be at least equal to the aggregate principal amount of the New Securities (as described below) to be issued (the “Maximum Acceptance Amount”), and which the Offeror will announce as soon as reasonably practicable following pricing of the New Securities, although the Offeror reserves the right, in its sole and absolute discretion, to accept more than or less than such amount, or to accept none of such Securities, for purchase pursuant to the Offer (the final aggregate principal amount accepted for purchase pursuant to the Offer, being the “Final Acceptance Amount”).

 

 

If the Offeror accepts any Securities for purchase pursuant to the Offer and the aggregate principal amount of the Securities validly tendered for purchase is greater than the Final Acceptance Amount, the Offeror intends to accept such Securities for purchase on a pro rata basis such that the aggregate principal amount of Securities accepted for purchase pursuant to the Offer is no greater than the Final Acceptance Amount, as further described in the Tender Offer Memorandum.

 

 

New Issue Condition

 

 

SES Financing S.à r.l. (“SES Financing”), a wholly-owned subsidiary of the Offeror, announced today its intention to issue euro denominated deeply subordinated fixed rate resettable undated securities, which will be guaranteed by the Offeror and SES Americom, Inc. (the “New Securities”), subject to market conditions. Whether the Offeror will purchase any Securities validly tendered in the Offer is subject, without limitation, to the successful completion (in the sole determination of the Offeror) of the issue of the New Securities by SES Financing (the “New Issue Condition”).

 

 

Even if the New Issue Condition is satisfied, the Offeror is under no obligation to accept for purchase any Securities validly tendered pursuant to the Offer. The acceptance for purchase by the Offeror of Securities validly tendered pursuant to the Offer is at the sole and absolute discretion of the Offeror, and tenders may be rejected by the Offeror for any reason.

 

 

Any investment decision to purchase any New Securities should be made solely on the basis of the information contained in the information memorandum to be prepared by the Offeror in connection with the issue and listing of the New Securities (the “Information Memorandum”), and no reliance is to be placed on any representations other than those contained in the Information Memorandum. Subject to compliance with all applicable securities laws and regulations, the Information Memorandum in preliminary form is available from the Dealer Managers (in their capacities as joint global co-ordinators and joint bookrunners of the issue of the New Securities) on request.

 

 

For the avoidance of doubt, the ability to purchase any New Securities is subject to all applicable securities laws and regulations in force in any relevant jurisdiction (including the jurisdiction of the relevant Holder and the selling restrictions that will be set out in the Information Memorandum). It is the sole responsibility of each Holder to satisfy itself that it is eligible to purchase the New Securities.

 

 

The New Securities, and the guarantees thereof, are not being, and will not be, offered or sold in the United States. Nothing in this announcement or the Tender Offer Memorandum constitutes an offer to sell or the solicitation of an offer to buy the New Securities, or the guarantees thereof, in the United States or any other jurisdiction. Securities may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the United States Securities Act of 1933, as amended (the “Securities Act”). The New Securities, and the guarantees thereof, have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons.

 

 

Compliance information for the New Securities: MiFID II professionals/UK MiFIR professionals/ECPs-only/No EEA or UK PRIIPs KID – eligible counterparties and professional clients only (all distribution channels). No sales to EEA or UK retail investors; no EEA or UK PRIIPs key information document has been or will be prepared. See the Information Memorandum (once published) for further information.

 

 

No action has been or will be taken in any jurisdiction in relation to the New Securities to permit a public offering of securities.

 

 

Allocation of the New Securities

 

 

When considering allocation of the New Securities, SES Financing may give preference to those Holders who, prior to such allocation, have validly tendered or have given a firm intention to the Offeror or any Dealer Manager that they intend to tender their Securities for purchase pursuant to the Offer. Therefore, a Holder who wishes to subscribe for New Securities in addition to tendering its existing Securities for purchase pursuant to the Offer may be eligible to receive, at the sole and absolute discretion of SES Financing, priority in the allocation of the New Securities, subject to the issue of the New Securities, the selling restrictions that will be contained in the Information Memorandum relating to the New Securities and such Holder making a separate application for the purchase of such New Securities to a Dealer Manager (in its capacity as a joint global co-ordinator and joint bookrunner of the issue of the New Securities) in accordance with the standard new issue procedures of such Dealer Manager. Any such preference will, subject to the sole and absolute discretion of the Offeror, be applicable up to the aggregate amount of Securities tendered or firmly intended to be tendered by such Holder pursuant to the Offer. However, the Offeror is not obliged to allocate any New Securities to a Holder who has validly tendered or indicated a firm intention to tender its Securities for purchase pursuant to the Offer and, if New Securities are allocated, the principal amount thereof may be less or more than the principal amount of Securities tendered by such Holder and accepted for purchase by the Offeror pursuant to the Offer. Any such allocation will also, among other factors, take into account the minimum denomination of the New Securities (being €100,000).

 

 

All allocations of the New Securities, while being considered by the Offeror as set out above, will be made in accordance with customary new issue allocation processes and procedures. In the event that a Holder validly tenders Securities pursuant to the Offer, such Securities will remain subject to such tender and the conditions of the Offer as set out in the Tender Offer Memorandum irrespective of whether that Holder receives all, part or none of any allocation of New Securities for which it has applied.

 

 

The pricing of the New Securities is expected to take place prior to the Expiration Deadline and, as such, Holders are advised to contact a Dealer Manager (in its capacity as a joint global co-ordinator and joint bookrunner of the issue of the New Securities) as soon as possible prior to the Expiration Deadline and prior to the pricing of the New Securities in order to request New Securities Priority.

 

 

Tender Instructions

 

 

In order to participate in, and be eligible to receive the Purchase Price and Accrued Interest Payment pursuant to, the Offer, Holders must validly tender their Securities for purchase by delivering, or arranging to have delivered on their behalf, a valid Tender Instruction that is received by the Tender Agent by 5.00 p.m. (CET) on 18 March 2026 (the “Expiration Deadline”), unless extended, re-opened, amended and/or terminated as provided in the Tender Offer Memorandum.

 

 

Holders are advised to check with any bank, securities broker, custodian or other intermediary through which they hold Securities when such intermediary would need to receive instructions from a Holder in order for that Holder to be able to participate in, or (in the limited circumstances in which revocation is permitted) revoke their instruction to participate in, the Offer by the deadlines specified in the Tender Offer Memorandum. The deadlines set by any such intermediary and each Clearing System for the submission and withdrawal of Tender Instructions will be earlier than the relevant deadlines specified in the Tender Offer Memorandum.

 

 

Tender Instructions will be irrevocable except in the limited circumstances described in the Tender Offer Memorandum.

 

 

Tender Instructions must be submitted in respect of a minimum principal amount of Securities of no less than €100,000, being the minimum denomination of the Securities, and may be submitted in integral multiples of €1,000 thereafter. A separate Tender Instruction must be completed on behalf of each beneficial owner of Securities.

 

 

The Offeror may, in its sole and absolute discretion, extend, re-open, amend, waive any condition of or terminate the Offer at any time (subject to applicable law), in each case as further described in the Tender Offer Memorandum.

 

 

All announcements will be made, at least, by (i) publication on the website of the Luxembourg Stock Exchange at www.luxse.com, and (ii) the delivery of notices to the Clearing Systems for communication to Direct Participants, and may also be made through the issue of a press release to a Notifying News Service or any other means. Copies of all such announcements, press releases and notices can also be obtained from the Tender Agent, the contact details for which are set out below. Significant delays may be experienced where notices are delivered to the Clearing Systems and Holders are urged to contact the Tender Agent for the relevant announcements during the course of the Offer. In addition, holders of Securities may contact the Dealer Managers for information using the contact details set out below.

 

 

The anticipated transaction timetable is summarised below:

 

 

Events		Times and Dates
Commencement of the Offer   Offer announced. Tender Offer Memorandum available from the Tender Agent (subject to offer and distribution restrictions) and notice of the Offer published on the Luxembourg Stock Exchange’s website (www.luxse.com) and delivered to the Clearing Systems for communication to Direct Participants.		11 March 2026
Pricing of the New Securities   Expected pricing of the New Securities, subject to market conditions.		Prior to the Expiration Deadline
Announcement of the Maximum Acceptance Amount   Announcement of the Maximum Acceptance Amount for the Offer.		As soon as reasonably practicable following pricing of the New Securities
Expiration Deadline   Final deadline for receipt of valid Tender Instructions by the Tender Agent in order for Holders to be able to participate in the Offer.		5.00 p.m. (CET) on 18 March 2026
Announcement of Results   Announcement of whether (subject to satisfaction (or waiver) of the New Issue Condition on or prior to the Settlement Date) the Offeror will accept valid tenders of Securities pursuant to the Offer and, if so accepted, the Final Acceptance Amount and any Scaling Factor (if applicable).		As soon as reasonably practicable on 19 March 2026
Settlement Date   Subject to satisfaction (or waiver) of the New Issue Condition, expected settlement date for the Offer.		23 March 2026

 

This is an indicative timetable and may be subject to change. Holders are advised to check with any bank, securities broker or other intermediary through which they hold Securities when such intermediary would need to receive instructions from a Holder in order for that Holder to be able to participate in, or (in the limited circumstances in which revocation is permitted) revoke their instruction to participate in, the Offer by the deadlines set out above.

 

For detailed terms of the Offer please refer to the Tender Offer Memorandum which (subject to the offer and distribution restrictions set out therein) can be obtained from the Tender Agent referred to below.

 

 

DEALER MANAGERS

 

 

Banco Bilbao Vizcaya Argentaria, S.A. (Telephone: +44 (0) 207 397 6061; Email: liabilitymanagement@bbva.com; Attention: Liability Management), Goldman Sachs International (Telephone: +44 (0) 207 7744 836; Email: liabilitymanagement.eu@gs.com; Attention: Liability Management Group) and J.P. Morgan SE (Telephone: +44 (0) 20 7134 2468; Email: liability_management_EMEA@jpmorgan.com; Attention: EMEA Liability Management Group)

 

 

TENDER AGENT

 

 

Kroll Issuer Services Limited (Telephone: +44 (0) 20 7704 0880; Attention: Scott Boswell; Email: ses@is.kroll.com; Website: https://deals.is.kroll.com/ses) is acting as Tender Agent for the Offer.

 

 

This announcement is released by SES and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (“MAR”), encompassing information relating to the Offer described above. For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Elisabeth Pataki (email: lisa.pataki@ses.com), Chief Financial Officer.

 

 

DISCLAIMER This announcement must be read in conjunction with the Tender Offer Memorandum. This announcement and the Tender Offer Memorandum contain important information which should be read carefully before any decision is made with respect to the Offer. If any Holder is in any doubt as to the contents of the Tender Offer Memorandum or the action it should take, it is recommended to seek its own financial and legal advice, including in respect of any financial, accounting and tax consequences, immediately from its broker, bank manager, solicitor, accountant or other independent financial, tax or legal adviser. Any individual or company whose Securities are held on its behalf by a broker, dealer, bank, custodian, trust company or other nominee must contact such entity if it wishes to tender such Securities for purchase pursuant to the Offer. None of the Offeror, the Dealer Managers or the Tender Agent (or any of their respective directors, employees or affiliates) makes any recommendation as to whether Holders should tender Securities pursuant to the Offer or is providing Holders with any legal, business, regulatory, financial, investment, tax, accounting or other advice in this announcement or the Tender Offer Memorandum. Holders should consult with their own advisers as needed to assist them in making an investment decision and to advise them whether they are legally permitted to tender Securities for cash.

 

 

OFFER AND DISTRIBUTION RESTRICTIONS

 

 

Neither this announcement nor the Tender Offer Memorandum constitutes an invitation to participate in the Offer in or from any jurisdiction in or from which, or to any person to or from whom, it is unlawful to make such invitation or for there to be such participation under applicable securities laws. The distribution of this announcement and/or the Tender Offer Memorandum in certain jurisdictions may be restricted by law. Persons into whose possession this announcement and/or the Tender Offer Memorandum come(s) are required by each of the Offeror, the Dealer Managers and the Tender Agent to inform themselves about and to observe any such restrictions. Nothing in this announcement nor the Tender Offer Memorandum nor the electronic transmission thereof constitutes an offer to buy or a solicitation of an offer to sell Securities (and tenders of Securities for purchase pursuant to the Offer will not be accepted from Holders) in any circumstances in which such offer or solicitation is unlawful. In any jurisdiction where the securities, blue sky or other laws require the Offer to be made by a licensed broker or dealer and any of the Dealer Managers or any of their respective affiliates is such a licensed broker or dealer in such jurisdiction, the Offer shall be deemed to be made by such Dealer Manager or affiliate, as the case may be, on behalf of the Offeror in such jurisdiction.

 

 

No action has been or will be taken in any jurisdiction in relation to the New Securities or the guarantees thereof that would permit a public offering of securities and the minimum denomination of the New Securities will be €100,000.

 

 

United States

 

 

The Offer is not being made, and will not be made, directly or indirectly in or into, or by use of the mails of, or by any means or instrumentality of interstate or foreign commerce of, or of any facilities of a national securities exchange of, the United States or to any U.S. person (as defined in Regulation S of the United States Securities Act of 1933, as amended (each a “U.S. Person”)). This includes, but is not limited to, facsimile transmission, electronic mail, telex, telephone, the internet and other forms of electronic communication. Accordingly, copies of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Offer are not being, and must not be, directly or indirectly mailed or otherwise transmitted, distributed or forwarded (including, without limitation, by custodians, nominees or trustees) in or into the United States, to any person located or resident in the United States or to any U.S. Person, and the Securities cannot be tendered in the Offer by any such use, means, instrumentality or facility from or within the United States or by any person located or resident in the United States or by, or by any person acting for the account or benefit of, a U.S. Person. Any purported tender of Securities in the Offer resulting directly or indirectly from a violation of these restrictions will be invalid, and any purported tender of Securities made by, or by any person acting for the account or benefit of, any person located in the United States or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States or by any U.S. Person or by use of such mails or any such means, instrumentality or facility will be invalid and will not be accepted.

 

 

Neither this announcement nor the Tender Offer Memorandum is an offer to buy or sell, or a solicitation of an offer to sell or buy, any Notes or other securities in the United States or to U.S. Persons. Securities may not be offered, sold or delivered in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The New Securities, or the guarantees thereof, have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. Persons.

 

 

Each holder of Securities participating in the Offer will represent that it is not a U.S. Person and is not located in the United States and is not participating in the Offer from the United States, or it is acting on a non-discretionary basis for a principal located outside the United States that is not giving an order to participate in the Offer from the United States and who is not a U.S. Person. For the purposes of this and the above two paragraphs, “United States” means the United States of America, its territories and possessions (including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake Island and the Northern Mariana Islands), any state of the United States of America and the District of Columbia.

 

 

Italy

 

 

None of the Offer, this announcement, the Tender Offer Memorandum or any other documents or materials relating to the Offer or to the Securities have been or will be submitted to the clearance procedures of the Commissione Nazionale per le Società e la Borsa (“CONSOB”) pursuant to Italian laws and regulations. The Offer is being carried out in the Republic of Italy (“Italy”) as an exempted offer pursuant to article 101-bis, paragraph 3-bis of the Legislative Decree No. 58 of 24 February 1998, as amended (the “Financial Services Act”) and article 35-bis, paragraph 4 of CONSOB Regulation No. 11971 of 14 May 1999, as amended. Accordingly, Holders or beneficial owners of the Securities that are located in Italy may tender their Securities for purchase pursuant to the Offer through authorised persons (such as investment firms, banks or financial intermediaries permitted to conduct such activities in Italy in accordance with the Financial Services Act, CONSOB Regulation No. 20307 of 15 February 2018, as amended from time to time, and Legislative Decree No. 385 of 1 September 1993, as amended) and in compliance with applicable laws and regulations or with requirements imposed by CONSOB, the Bank of Italy or any other Italian authority.

 

 

Each intermediary must comply with the applicable laws and regulations concerning information duties vis-à-vis its clients in connection with the Securities and/or the Offer.

 

 

United Kingdom

 

 

The communication of this announcement, the Tender Offer Memorandum and any other documents or materials relating to the Offer is not being made and such documents and/or materials have not been approved by an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended. Accordingly, such documents and/or materials are not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of such documents and/or materials is exempt from the restriction on financial promotions under section 21 of the FSMA on the basis that it is only directed at and may only be communicated to (1) persons outside the United Kingdom, (2) those persons falling within the definition of investment professionals or high net worth companies (contained in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Financial Promotion Order”)), (3) those persons falling within Article 43(2) of the Financial Promotion Order, including existing members and creditors of the Offeror, and (4) any other persons to whom these documents and/or materials may lawfully be communicated under the Financial Promotion Order (all those persons together, “Relevant Persons”). Any person in the United Kingdom who is not a Relevant Person should not act or rely on this document.

 

 

France

 

 

The Tender Offer Memorandum and this announcement and any other documents or materials relating to the Offer have only been and shall only be distributed in France to qualified investors (investisseurs qualifiés) as defined in Article 2(e) of Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”). Neither the Tender Offer Memorandum, any such documents or materials, nor this announcement has been or will be submitted for clearance to or approved by the Autorité des Marchés Financiers.

 

 

European Economic Area

 

 

In any European Economic Area (“EEA”) Member State (an “EEA Member State”), the Tender Offer Memorandum and this announcement are only addressed to and are only directed at qualified investors within the meaning of the Prospectus Regulation.

 

 

Each person in an EEA Member State who receives any communication in respect of the Offer contemplated in the Tender Offer Memorandum will be deemed to have represented, warranted and agreed to and with each Dealer Manager and the Offeror that it is a qualified investor within the meaning of Article 2(e) of the Prospectus Regulation.

 

 

 

 

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