CASCADES INC. COMMUNICATES THE MONETIZATION OF ITS CONTROLLING INTEREST IN RDM GROUP

05-07-2021

Cascades Inc. has shared a press release to communicate the Group’s decision to exit the European market and therefore sell its 57.3% shares in Reno De Medici S.p.A. to Apollo Global Management Inc. a US investment fund.

Apollo Global Management has announced the acquisition of approximately 67% of RDM Group’s shares from the company’s two principal shareholders, Cascades Inc. and Caisse de dépot et placement du Québec, for € 1.45 per share. The transaction is expected to be completed by Q3 2021. At closing, Apollo will launch a mandatory tender offer for the remaining shares, with the aim to de-list RDM Group.

 

With the exit of Cascades Inc. in the next few months, an important page in our history closes and we begin to write an exciting new chapter with a leading US listed financial company that believes in our success story, our potential for the future and our vision: ” RDM Group reflects our strategy to find good businesses where we believe we can drive financial and impact performance to increase their beneficial effects on society and the planet“.

 

Please, refer to the press release for more information.

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