Ignacio Noel made an offer to acquire remaining 26.98% stake in Morixe Hermanos S.A.C. e I. (BASE:MORI) for ARS 20.9 million on August 11, 2017. Under the terms of the deal, Ignacio Noel will acquire remaining 10.66 million registered ordinary shares with the right to one vote per share and 1.2 million registered ordinary shares with the right to 5 votes per share and will pay ARS 1.6546 per share in cash. Ignacio Noel has the sufficient financial resources to cover the entire offer. The period, mode and final terms of the offer will be announced by notifications and in the AIF, once obtained the necessary authorizations. On September 28, 2017, Morixe Hermanos S.A.C. e I. rejected the price offered by Ignacio Noel, with the requirement to adjust the terms of the offer within a period of 30 days from the rejection notification. As on December 14, 2017, the offered price is revised to ARS 3.24 per share of Morixe Hermanos resulting in a purchase price of ARS 41 million. The offer is valid for 25 business days beginning on December 18, 2017 and ending on January 16, 2018. The additional period of the offering will be from January 17, 2018 until January 23, 2018. Benedit Bursátil S.A. acted as purchasing agent and Banco de Galicia y Buenos Aires S.A. acted as guarantee agent in the offer. Estudio Aranguren Abogados acted as legal advisor to Ignacio Noel.