Milan, January 27, 2016
Reno De Medici S.p.A., one of the world's largest producers of recycled cartonboard, announces that has sold the entire share capital of Reno De Medici Ibérica S.l.ù. to Arpafino S.l.ù..
In the framework of the valuation process of the Group asset portfolio, Reno De Medici Ibérica S.l.ù. was already reclassified under the Discontinued Operations, as required by IFRS 5, following the decision taken by the Board of Directors of Reno De Medici S.p.A. to make it available for sale, as it was considered no longer strategic.
The sale of Reno De Medici Ibérica S.l.ù. takes place at an overall value of 800,000 euro, in line with book value.
The transaction will imply a reduction of approximately 4.2 million euro in the net financial indebtedness of Reno De Medici as at December 31, 2015.
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Mr. Stefano Moccagatta, the officer in charge of drafting the Company's accounting documents, declares pursuant to Art. 154-bis, sub-section 2, of Italian Legislative Decree 58/1998 ("Consolidated Law on Financial Intermediation") that the information contained in this press release corresponds to documentary results and to accounting books and records.
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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.
Reno De Medici
Investor Relator Media Relations
Reno De Medici Image Building
Stefano Moccagatta Simona Raffaelli, Alfredo Mele, Valentina Bergamelli
Maria Grazia Mantini