Approved · Waiver · decided in 9 days, 19 Feb 2026
Funds managed by Apollo Global Management, via Reed BidCo Limited, will indirectly acquire sole control of Lecta Paper Industries Intermediate Financing S.à r.l. The transaction involves a debt-to-equity swap, with Reed BidCo acquiring Lecta's common equity. Lecta is a manufacturer and supplier of specialty papers.
Lecta Limited and Lecta Paper Industries Intermediate Financing S.à r.l. have agreed with certain creditors of the Lecta Group to restructure the group’s financial indebtedness. As part of that restructure, funds managed by subsidiaries of Apollo Global Management (together with its indirect subsidiaries managing the investment funds, Apollo ) will indirectly acquire sole control over Lecta Paper Industries Intermediate Financing S.à r.l. (together with its subsidiaries, Lecta ) by way of a debt-to-equity swap (the Acquisition ). The Acquisition will be effected by a new holding company, Reed Bidco Limited ( BidCo ), acquiring all of the common equity in Lecta and issuing new equity to the funds managed by Apollo, among other creditors of Lecta. Apollo is a high-growth global alternative asset manager headquartered in New York City, New York. Apollo offers investment management and financial planning services to individuals and institutional investors. Lecta is a manufacturer and supplier of specialty papers for labels, flexible packaging and other high value-added print segments, as well as coated and uncoated paper for publishing. Lecta has its main operating offices in Barcelona, Spain and operates several production facilities in Europe, including manufacturing facilities producing pulp, base paper, specialty papers, self-adhesive papers and coated woodfree paper, with seven mills across Spain, France and Italy and a self-adhesive converting centre in Germany.