A 17% Share in EmmausPack S.r.l has been sold

 

On 14th March 2016 too, Reno De Medici sold a 17% share in EmmausPack S.r.l. to the Oldani Family (Stefano and Andrea Oldani bought the bare ownership whereas Angelo Oldani acquired the beneficial interest). The sale will reduce RDM’s shareholding in the cut and distribution company from 51% to 34% of the total share capital. With this transaction, the Oldani family will increase its shareholding in EmmausPack S.r.l. from 49% to 66%. The purchase price has been set to 700,000 euros. The book value of RDM’s shareholding in EmmausPack S.r.l. amounts to 108,456 euros. On 31st December 2015, the affiliate’s net debt amounted to 2.3 million euros. Reno De Medici will therefore enjoy capital gain on the sale and a reduction of its own consolidated net debt of around 3 million euros.

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