Perfect Commerce, LLC made an offer to acquire the remaining 21.05% stake in Hubwoo (ENXTPA:HBW) for €5.7 million on October 18, 2017. Under the terms of the offer, Perfect Commerce would pay €0.2 per Hubwoo share with the maximum consideration being restricted to €5.6 million. Perfect Commerce intends to finance the acquisition through existing cash resources. Perfect Commerce intends to initiate a squeeze out for the remaining shares in case it reaches a 95% shareholding threshold. Perfect Commerce reserves the right to delist Hubwoo from Euronext, subject to rules of Euronext. The offer is subject to approval from Authorité des Marchés Financiers (AMF) and also approval from the Board of Hubwoo. As of January 12, 2018, the offer has been unanimously approved by the Board Hubwoo. As of January 17, 2018, the tender offer for the acquisition of the remaining stake in Hubwoo has officially been filed and the terms have been disclosed. As of February 21, 2018, AMF announced that the offer will remain open from February 22, 2018 to March 7, 2018. The offer will remain open from Banque Delubac & Cie acted as a presenting bank while Euroland Corporate and Carl Holmes, Emily Watts and Stephen Norcross of FinnCap Ltd. acted as a financial advisors for Perfect Commerce. Perfect Commerce, LLC completed the acquisition of additional 9.6% stake in Hubwoo (ENXTPA:HBW) for €2.6 million on March 7, 2018. Post transaction, Proactis Holding PLC is now beneficially interested in 120.7 million Hubwoo shares representing 88.6% stake.