Ventura Capital Privado S.A. de C.V., Javier Molinar Horcasitas, Enrique Castillo Sanchéz Mejorada and a group of investors made an offer to acquire Maxcom Telecomunicaciones S.A.B. de C.V. (NYSE:MXT) for approximately MXN 760 million on July 2, 2013. Under the terms of agreement, Ventura Capital Privado S.A. de C.V. and other buyers agreed to offer MXN 2.9 per Certificados de Participación Ordinarios(CPO) which consists of 7 ADRs. As a result of the acquisition, Ventura Capital Privado S.A. de C.V. and other buyers will jointly hold 100% stake in Maxcom Telecomunicaciones. In a related transaction, Maxcom Telecomunicaciones, S.A.B. de C.V. announced that it will receive MXN 583.57 million ($45 million) in a recapitalization round of funding from Ventura and other related parties on July 3, 2013. The deal is a part of a proposed pre-packaged Chapter 11 restructuring. If case of termination, buyers would pay a termination fee of $2.48 million (MXN 32.16 million).

The tender offer shall remain open for a minimum of twenty business days after (and including the day of) the commencement of the tender offer and shall be extended thereafter for additional periods, of at least five business days each. The offer period has been extended from 23 of August of 2013 until 26 of September, 2013. Record date and settlement date of the deal is October 1, 2013. As of July 2, 2013, the offer was approved by the Board of Directors of Maxcom Telecomunicaciones. The deal is subject to receiving legal and regulatory approvals from the Mexican Banking and Securities Commission, the Mexican Ministry of Communications and Transportation, CNBV, COFECO, and SCT, the Mexican Antitrust Commission, consent of noteholders and the Bankruptcy Court for the District of Delaware. The Board of Maxcom recommended the deal. As of July 7, 2013, the transaction is expected to close by the end of August 2013. As of September 10, 2013, U.S. Bankruptcy Court for the District of Delaware approved the transaction.

Ricardo Cervera of VACE Partners acted as financial advisor to Ventura Capital Privado S.A. de C.V. Luc A. Michael Fitzgerald, Joy Gallup, Luc Despins, Steven Sandretto, Veronica Rodriguez, Marc Carmel, Alex Bongartz and Bruno Espindola of Paul Hastings LLP and Fernando de Ovando of Jones Day México, S.C acted as legal advisors to Ventura Capital Privado S.A. de C.V. and Banco Invex. Cleary Gottlieb Steen & Hamilton LLP and Cervantes Sainz, S.C. acted as legal advisors to the consenting noteholders. Gonzalo Alarcon of Alarcon Espinosa Abogados, S.C. and Marc Kieselstein, P.C., Paul Zier, and Daniel R.Hodgman of Kirkland & Ellis LLP acted as legal advisors to Maxcom Telecomunicaciones. Casa de Bolsa Banorte, S.A. de C.V. acted as financial advisor to Maxcom Telecomunicaciones. Laura Davis Jones, Timothy Cairns and Peter Keane at Pachulski Stang Ziehl & Jones LLP acted as legal advisor to Maxcom Telecomunicaciones and debtors. Fernando del Castillo of Santamarina y Steta SC acted as legal advisor to Maxcom Telecomunicaciones. Matthew Hart and Blake O'Dowd at Lazard Freres & Co. LLC and Adolfo Rios at Alfaro, Dávila y Ríos, S.C. acted as financial advisor to Maxcom Telecomunicaciones. Cleary Gottlieb Steen & Hamilton LLP and Alejandro Sainz at Cervantes Sainz SC represent the ad hoc noteholder committee.

The currency conversion was done through www.oanda.com on July 3, 2013.

Ventura Capital Privado S.A. de C.V., Javier Molinar Horcasitas, Enrique Castillo Sanchéz Mejorada and a group of investors completed the acquisition of 44.69% stake in Maxcom Telecomunicaciones S.A.B. de C.V. (NYSE:MXT) for approximately MXN 340 million on September 26, 2013.