Closing of the acquisition by Apollo Funds of approx. 67% stake in RDM group
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NEW YORK, Sept. 26, 2021 (GLOBE NEWSWIRE) -- Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced that the closing of the acquisition of a majority stake in Reno De Medici S.p.A. (“RDM” or the “Company”) (BIT: RM/BME: RDM), which is subject to customary closing conditions, is expected to take place by Q4 2021.
As announced on July 5, 2021, certain funds managed by Apollo’s affiliates (the “Apollo Funds”) have entered into definitive agreements to acquire approx. 67% equity ownership in RDM from the Company’s top two shareholders, Cascades Inc. (TSX: CAS) and Caisse de dépot et placement du Québec, for EUR 1.45 per share.
Since not all of the necessary antitrust authorizations to which the closing of the transaction is subject have been issued yet, the closing is currently expected to occur in the fourth quarter of 2021.
Upon closing, the Apollo Funds will launch a mandatory public tender offer on all the remaining RDM shares (including all the ordinary shares deriving from the conversion of the convertible savings shares of the Company, to the extent such shares are converted prior to the expiration of the mandatory public tender offer), with the aim to de-list the Company.
About ApolloApollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of June 30, 2021, Apollo had approximately $472 billion assets under management. To learn more, visit www.apollo.com.
Contacts:For Investors:Noah GunnGlobal Head of Investor RelationsApollo Global Management, Inc.(212) 822-0540IR@apollo.com
For Media:Joanna RoseGlobal Head of Corporate CommunicationsApollo Global Management, Inc.(212) 822-0491Communications@apollo.com
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