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Astorg Asset Management Updates On Euromoney Recommended Offer

Astorg Asset Management, in an update on recommended all-cash offer for Euromoney Institutional Investor Plc (ERM.L), said it continues to anticipate that all Regulatory and anti-trust approvals will be received to enable the deal to become effective during the fourth-quarter 2022. The Financial Conduct Authority's approval process is ongoing in the ordinary course.

Becketts Bidco Limited, a newly incorporated company controlled by funds managed and/or advised by Astorg Asset Management S.à r.l. and Epiris LLP, announced in July 2022 that it had reached agreement on the terms of a recommended all-cash offer for the entire issued and to be issued ordinary share capital of Euromoney Institutional Investor. Under the terms of the Recommended Offer, Euromoney Shareholders will be entitled to receive 1,461 pence in cash per Euromoney Share.

Becketts Bidco confirmed Tuesday that the waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976 (as amended) is due to expire on 7 September 2022; and the statutory review period under the Cyprus Control of Concentrations Between Undertakings Law is expected to expire on or before 30 September 2022.

Becketts Bidco expects each of the approvals to have been received by the end of the relevant period.

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