Queruclor acquisition of Exal Packaging SA


Marval, O’Farrell & Mairal and Bunge, Smith & Luchía Puig advised on the deal

Exal Corporation, the largest producer of impact extruded aluminum containers in the world, has agreed to sell Exal Packaging SA (Exal’s filling business), in Garin, Argentina to the Queruclor Group, an Argentine manufacturer and supplier of personal and home care products.

The sale which was completed today, allows Exal to focus resources on its existing can making facilities in North and South America and also on its recent merger announcement with the Ardagh Group to form the new Trivium Packaging joint venture. Exal’s parent, the Ontario Teachers’ Pension Plan will control a 57% stake in Trivium. Completion of the Trivium transaction is subject to regulatory approval and is expected to close in the fourth quarter of 2019.

Citibank NA, Citizens Bank NA, Keybanc National Association, Export Development Canada, Sumitomo Mitsui Banking Corporation and Stifel Bank & Trust (lenders) Bank of Montreal (administrative agent) and TMF Trust Company SA (warranty agent) financed the transaction.

Bunge, Smith & Luchía Puig advised the banks on the deal.

Marval, O’Farrell & Mairal advised Exal Corporation with a team including Pablo García Morillo (Picture), Fernando Hernández, María Virginia Canzonieri, Agustina Marinelli and María Soledad Baratta.

Involved fees earner: María Soledad Baratta – Marval, O’Farrell & Mairal; Maria Virginia Canzonieri – Marval, O’Farrell & Mairal; Pablo García Morillo – Marval, O’Farrell & Mairal; Fernando Hernández – Marval, O’Farrell & Mairal; Agustina Marinelli – Marval, O’Farrell & Mairal;

Law Firms: Marval, O’Farrell & Mairal;

Clients: Exal Corporation;