4 Firms Build $8.5B SPAC Deal For Metal Packaging Biz

Law360 (February 23, 2021, 11:41 AM EST) -- The metal packaging business of European food and beverage packaging giant Ardagh Group will go public by merging with a private equity-backed special purpose acquisition company at an enterprise value of about $8.5 billion, the companies said Tuesday, in a transaction put together by Weil Gotshal, Loyens & Loeff, Shearman & Sterling and Elvinger Hoss.

The transaction features the metal packaging business of Luxembourg-based Ardagh Group SA, called Ardagh Metal Packaging SA, combining with Gores Holdings V Inc., a SPAC backed by California-headquartered private equity firm The Gores Group, according to a statement. Ardagh's metal packaging business supplies metal containers for beverage items like soft...

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