Antitrust Delay Leads Ardagh To Repay $1.6B In Bonds

Law360, New York (January 13, 2014, 5:12 PM EST) -- Irish glass and metal packaging company Ardagh Group SA said Monday that it will repay $1.6 billion in bonds it issued to finance its proposed acquisition of U.S. glass container manufacturer Verallia North America as U.S. regulators' antitrust concerns stall the deal.

Ardagh had initially planned to close its approximately $1.7 billion purchase of VNA, the North American packaging unit of France’s Saint-Gobain SA, by Monday. But the deal has been blocked since July by the U.S. Federal Trade Commission because of antitrust concerns.

With the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.