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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.
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.
Shareholders of Montreal-based sustainable packaging provider IPL Plastics agreed to the company's sale to an affiliate of Madison Dearborn Partners, reported September 29, 2020.
Madison Dearborn Partners funds agreed to acquire IPL Plastics Inc. from shareholders including CDPQ for approximately CAD 550 million on 28 July 2020. CDPQ will keep a minority stake of about 24.9%.
IPL Inc. acquired Encore Industries Inc., a producer of rigid plastic packaging with three US facilities in Ohio, Georgia and Minnesota, for US$35 million. The deal was made with parent One51 and partners Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ.
