PRESS RELEASE
RDM GROUP: THE PROCESS FOR THE ACQUISITION OF ESKA GROUP, GLOBAL LEADER OF SOLID
BOARD, CONTINUES
Binding contract signed for the acquisition of 100% of the share capital
of the Group's parent company FINESKA B.V.
Milan, 9 July 2021 - Following the successful outcome of the employment law and trade union procedures provided for by the Dutch law, on 8 July 2021 Reno De Medici S.p.A. signed the binding contract for the acquisition of 100% of the share capital of Fineska B.V., the Dutch holding company of "Eska" Group. The seller, Andes C.V. is a vehicle controlled by the US investment firm Andlinger & Co.
On 8 June 2021, Reno De Medici S.p.A. had signed an irrevocable commitment to acquire 100% of the share capital of Fineska B.V., the Dutch holding company of "Eska" Group. The Eska Group is a global leader in the production of solid board based on 100% recycled fibers.
The financial terms of the binding contract had been set in the irrevocable commitment and had been explained in the press release published by RDM Group on 8 June 2021, to which reference is made for any further details: the price for the acquisition of the Eska Group is based on an overall Enterprise Value of €155 million, calculated on the €24.6 million EBITDA for 2020.
The transaction closing is expected to occur no later than July 20, 2021, being already fulfilled the condition precedent regarding Reno De Medici S.p.A.'s obtainment of the transaction financing.
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This document is an English translation from Italian. The Italian original shall prevail in case of difference in interpretation and/or factual errors.
For further information
Reno De Medici | Media Relations |
Investor Relations Officer | Community Group |
Chiara Borgini | Pasquo Cicchini |
Tel: +39 02 89966204 | Tel: +39 3451462429 |
E-mail: investor.relations@rdmgroup.com | E-mail:pasquo.cicchini@communitygroup.it |
Giovanni Fabbri | |
Tel: +39 3463255638 | |
IR Advisor | E-mail:giovanni.fabbri@communitygroup.it |
Blue Arrow | Elena Zola |
Maria Grazia Mantini | Tel: +39 3477034078 |
Tel: +41 91 2291710 | E-mail:elena.zola@communitygroup.it |
E-mail:mariagrazia.mantini@bluearrow.ch |
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Reno De Medici S.p.A. published this content on 09 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 July 2021 06:13:05 UTC.