# Apollo funds to buy majority stake in Reno De Medici and delist it

Funds managed by Apollo Global Management will buy about 67% of Italy's Reno De Medici from Cascades and CDPQ at EUR 1.45 per share, totaling EUR 365 million, then launch an offer to delist the cardboard maker.

- Type: Acquisition
- Announced: 2021-07-05
- Where: Italy
- Value: $433.0M (365.0M EUR)
- Status: announced
- Products: cardboard

## Companies

- [RDM](https://endata.com/companies/279.md) (target)
- [Caisse de dépôt et placement du Québec](https://endata.com/companies/322.md) (partner)
- [Cascades](https://endata.com/companies/923.md) (partner)
- [Apollo Global Management](https://endata.com/companies/3851.md) (acquirer)
- [Reno De Medici Group](https://endata.com/companies/7921.md) (target)

## Sources

- [reuters.com](https://www.reuters.com/article/world/americas/apollo-to-buy-majority-of-italys-reno-de-medici-delist-group-idUSKCN2EB0FF/), 2021-07-05: "The funds will initially buy some 67% of the group from its two top shareholders, Cascades and Canadian pension fund Caisse de depot et placement du Quebec, at 1.45 euros per share."
- [privateequityinternational.com](https://www.privateequityinternational.com/apollo-to-acquire-a-majority-stake-in-rdm/), 2021-07-07: "Apollo Global Management has agreed to acquire a majority stake in RDM, a producer of recycled carton board in Europe."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.