On 30 March 2021, RDM Group signed the binding contract for the sale of its French subsidiary R.D.M. La Rochette S.A.S.
Following the successful outcome of the employment law and trade union procedures provided for by the French law, RDM Group signed, through its subsidiary RDM Blendecques S.A.S., the binding contract for the sale of its 100% interest in R.D.M. La Rochette S.A.S., a company under French law.
On 16 February 2021, RDM Group had signed a put option agreement to sell the 100% interest in its French subsidiary R.D.M. La Rochette S.A.S., the Group’s only mill operating in the segment of cartonboard for folding boxboard based on virgin fibers (FBB). The financial terms of the binding contract were set in the put option agreement and explained in the press release published by RDM Group on 16 February 2021.
The closing of the transaction is expected to take place no later than 28 July 2021 and is subject to fulfillment of some conditions precedent. In the event that on the said date the Antitrust authorities’ legal authorizations have not yet been obtained, the closing of the transaction will be delayed by ninety days.
Source: RDM Group