EU clears M&G and Arini takeover of Reno de Medici from Apollo

The European Commission has approved M&G Investment Management and Arini Capital Management taking joint control of Italian cardboard maker Reno de Medici, currently controlled by Apollo Management. The deal was cleared under the simplified merger review procedure after regulators found no overlap in the companies' markets.

Why this mattersOwnership of a listed European recycled-cardboard producer moves from a private-equity sponsor to asset managers, a shift readers tracking consolidation in fibre packaging should note.

• European Commission approved the deal on 25 September 2026 under case number M.12612.
• M&G Investment Management and Arini Capital Management, both UK-based, will take joint control of Reno de Medici.
• Reno de Medici is currently controlled by US firm Apollo Management.
• The transaction was cleared under the EU's simplified merger review procedure.
• The Commission found the companies are not active in the same or vertically related markets.
• No deal value was disclosed in the Commission statement.

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