Elvinger Hoss Prussen is providing legal advice to Ardagh Group S.A. in connection with the combination of its metal packaging business with Gores Holdings V, Inc., a special purpose acquisition company affiliated with The Gores Group.
The business combination agreement provides that Ardagh Metal Packaging S.A., a newly created Luxembourg company, holds Ardagh’s metal packaging business. Ardagh Metal Packaging intends to apply to list its shares on the New York Stock Exchange. Ardagh Group S.A. will retain a 80% interest in the metal packaging business, which is expected to have a post-transaction enterprise value of approximately $8.5 billion. Ardagh Group also expects to receive $3.4 billion in cash from the proposed transactions.
Ardagh is a global supplier of infinitely-recyclable metal and glass packaging for the world’s leading brands, and Ardagh Metal Packaging will hold Ardagh’s metal packaging business, which is a leading supplier of beverage cans globally, with a particular focus on the Americas and Europe and a clear leader in sustainability.
The Elvinger Hoss Prussen team was led by partner Karl Pardaens.
