# Apollo funds to acquire 67% of Reno De Medici from Cascades and CDPQ

Apollo-controlled funds agreed to buy about 67% of Reno De Medici from its two largest shareholders, Cascades and Caisse de depot et placement du Quebec, at EUR 1.45 per share. The deal cost about EUR 315.3 million and was expected to close by Q3 2021, followed by a mandatory takeover bid.

- Type: Acquisition
- Announced: 2021-08-24
- Where: Italy
- Value: $372.0M (315.3M EUR)
- Status: announced
- Products: recycled-based coated cartonboard
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [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

- [paperindustryworld.com](https://www.paperindustryworld.com/reno-de-medici-changes-ownership-the-apollo-fund-acquires-67-of-the-shares/), 2021-08-24: "The Apollo funds will buy around 67% of Reno De Medici's capital from the company's two largest shareholders, Cascades and Caisse de depot et placement du Quebec, at a price of 1.45 EUR per share."

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