Cases & Deals

Cascades sells controlling interest in Reno De Medici to Apollo

Client(s) Cascades, Inc.

Jones Day represented Cascades Inc. (TSX: CAS) in the sale of its 57.6% interest in dual-listed Reno De Medici S.p.A., a recycled cartonboard manufacturer listed on the Italian stock exchange (BIT: RM) and on the Madrid stock exchange (BME: RDM) with a market cap in excess of €500 million, to an affiliate of funds managed by Apollo Global Management, Inc. (NYSE: APO) for an all-cash purchase price of €1.45 per share, corresponding to an overall consideration of €315.3 million.

Apollo’s acquisition of Cascades Inc.’s controlling interest in Reno De Medici triggers a mandatory tender offer for all remaining shares in Reno De Medici.