Reno De Medici S.p.A. (BIT:RM) agreed to acquire remaining 66.7% stake in Pac Service S.P.A. for €10.1 million on November 20, 2017. Post transaction, Reno De Medici S.p.A. will own 100% stake. Reno De Medici S.p.A. will pay the consideration with existing liquidity. In the last fiscal year ended December 31, 2016, Pac Service S.P.A. had revenues of €20.5 million, EBITDA of €1.9 million, operating profit of €1.7 million and net profit of €1.1 million. The Board of Directors of Reno De Medici S.p.A approved the right of first refusal for the acquisition. The deal is expected to close by December 31, 2017. Reno De Medici S.p.A. (BIT:RM) completed the acquisition of the remaining 66.7% stake in Pac Service S.P.A on January 1, 2018.