The Board of Directors of Reno De Medici S.p.A. favorably assessed an irrevocable offer received by its subsidiary RDM Blendecques S.A.S. for the purchase of its 100% interest in R.D.M. La Rochette S.A.S. The offer was submitted by Bonaparte Holding SAS.
RDM Blendecques S.A.S. thus signed the relevant put option agreement to sell its fully owned French company R.D.M. La Rochette S.A.S., operating in the segment of cartonboard for folding boxboard based on virgin fibers (FBB).
The signing of the afore-mentioned put option agreement proposed by Bonaparte Holding SAS entails the assumption by RDM Blendecques S.A.S. of the sole exclusivity obligation for the entire duration of the offer and the beginning of the employment law and trade union procedures provided for by the French law, upon the conclusion of which a binding contract may be signed for the sale of 100% of La Rochette’s equity capital. The signing of the binding contract is expected within the first half of 2021.
The offeror, Bonaparte Holding SAS, is a company established under French law and controlled by Mutares SE & Co. KgaA, an investment holding listed on the Frankfurt stock exchange and specialized in the acquisition and reorganization of medium-sized companies.
La Rochette operates in the segment of cartonboard for folding boxboard based on virgin fibers (FBB). With its manufacturing plant in La Rochette, France, 140 km from Lyons, the company has a theoretical capacity of 165,000 tons of virgin-fiber FBB. The plant operates with two paper machines and can produce a wide range of products of different grammages.
The Reno De Medici Group is the leading Italian and second-ranked European producer of cartonboard made of recycled fibers material operating also in the manufacturing of virgin cartonboard.
