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Sacked Malta airport CEO loses unfair dismissal bid Former CEO Markus Klaushofer accused of showing interested buyer sensitive MIA data in bid to obtain 10-year contract at double his salary 3 August 2021, 7:48am by Matthew Vella Malta’s Industrial Tribunal ruled that former Malta International Airport chief executive officer Markus Klaushofer breached company confidentiality, when he exchanged sensitive data with a prospective buyer for MIA shares. Klaushofer’s bid to have his 2015 sacking ruled illegal and obtain damages beyond a €400,000 termination offer which he refused, was thrown out by the Industrial Tribunal, which found him in serious breach of his obligations.
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In Line with its Strategy, Cascades Announces the Monetization of its Controlling Interest in RDM Group News provided by Share this article Share this article KINGSEY FALLS, QC, July 5, 2021 /PRNewswire/ - Cascades Inc. (TSX: CAS) (the Company ) is pleased to announce that it has entered into an agreement with an affiliate of funds managed by affiliates of Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, Apollo ) to sell its 57.6% equity interest in Reno De Medici S.p.A. (BIT: RM) ( Reno de Medici , or RDM ) for an all-cash price of €1.45 per share, corresponding to a total net cash consideration of approximately €315.3 million (approximately CAN$461 million). The purchase price is not subject to adjustment, except in case of potential leakages of value to the seller (such as, among others, dividends or returns of capital), provided that RDM s 2020 dividend that was paid to the shareholders in May 2021 will not be considered a leakage.
Share: Transaction to be followed by tender offer to de-list RDM group RDM, a leader in the circular economy, represents Apollo s first investment from its Impact platform NEW YORK, July 05, 2021 (GLOBE NEWSWIRE) Apollo Global Management, Inc. (NYSE:APO) (together with its consolidated subsidiaries, Apollo or the Firm ) today announced that certain funds managed by its affiliates (the Apollo Funds ) have entered into definitive agreements to acquire a majority stake in Reno De Medici S.p.A. ( RDM , or the Company or the Issuer ) (BIT: RM/BME: RDM), a leading producer of recycled cartonboard in Europe. Apollo Funds will acquire approx. 67% equity ownership in RDM from the Company s top two shareholders, Cascades Inc. (TSX:CAS) and Caisse de dépot et placement du Québec for EUR 1.45 per share (with no adjustments, save as further detailed below), representing a 24% premium to the 90-day volume weighted average share price. The closing of the transaction, which is subject to customary closing conditions as further detailed below, is expected to take place by Q3 2021. Upon closing, Apollo will launch a mandatory tender offer for the remaining shares, with the aim to de-list the Company.