Rottneros Decides on Environmental Investments at Vallvik Mill

Cascades Inc. is pleased to announce that it has entered into an agreement with an affiliate of funds managed by affiliates of Apollo Global Management, Inc. to sell its 57.6% equity interest in Reno De Medici S.p.A. for an all-cash price of €1.45 per share, corresponding to a total net cash consideration of approximately €315.3 million. The purchase price is not subject to adjustment, except in case of potential leakages of value to the seller, provided that RDM's 2020 dividend that was paid to the shareholders in May 2021 will not be considered a leakage. The selling price represents a 24% premium to RDM's 90-day volume weighted moving average share price, and a 6.9x multiple to RDM's last twelve months adjusted operating income before depreciation as of March 31, 2021. Upon closing of the recently announced acquisition of Eska Group, the RDM group operations will grow to nine mills and five specialized cutting and sheeting centers across Europe and the USA.

Interfor Corporation announced that it has reached an agreement to sell its specialty sawmill located in Gilchrist, Oregon to Neiman Enterprises Inc. The Gilchrist sawmill, which specializes in ponderosa and lodgepole pine boards, has been curtailed since mid-June of this year due to COVID-19 related economic factors. Prior to its curtailment, the mill produced approximately 80 million board feet of lumber per year and employed approximately 150 employees. The completion of the transaction is subject to customary conditions and is expected to close in the fourth quarter of 2020. Interfor will continue to own and operate its three US Northwest stud mills located in Molalla, Oregon, Longview, Washington and Port Angeles, Washington.

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