Ardagh Metal Packaging’s Combination with Gores Holdings V

Shearman & Sterling and Elvinger Hoss Prussen advised Ardagh Group S.A. on the deal.Ardagh Group S.A. executed 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 announced on February 23, 2021 provides for Ardagh’s metal packaging business to be held by Ardagh Metal Packaging S.A., a newly created Luxembourg company that intends to apply to list its shares on the New York Stock Exchange. Ardagh Group S.A. will retain an 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 Shearman & Sterling team included Clare O’Brien (Picture), Richard Alsop, Trevor Ingram, Alain Dermarkar,  Gillian Emmett Moldowan, Jordan Altman, Laurence Bambino, Nathan Tasso, Tomasz Kulawik, Kristen Garry, Derek Kershaw, Mehran Massih, Lara Aryani, Yiting Du, William Kim, Eric Grosshandler, JB Betker, Erika Kent, Evangelia Andronikou, Nauka Patel, Frank Oliver, Jordan Franks, Eitan Morris and Harekrishna Ashar.

he Elvinger Hoss Prussen team was led by partner Karl Pardaens.

Involved fees earner: Karl Pardaens – Elvinger Hoss Prussen; Richard Alsop – Shearman & Sterling; Jordan Altman – Shearman & Sterling; Evangelia Andronikou – Shearman & Sterling; Lara Aryani – Shearman & Sterling; Laurence Bambino – Shearman & Sterling; JB Betker – Shearman & Sterling; Alain Dermarkar – Shearman & Sterling; Yiting Du – Shearman & Sterling; Gillian Emmett Moldowan – Shearman & Sterling; Jordan Franks – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Trevor Ingram – Shearman & Sterling; Erika Kent – Shearman & Sterling; Derek Kershaw – Shearman & Sterling; William Kim – Shearman & Sterling; Tomasz Kulawik – Shearman & Sterling; Mehran Massih – Shearman & Sterling; Frank Oliver – Shearman & Sterling; Clare O’Brien – Shearman & Sterling; Nauka Patel – Shearman & Sterling; Nathan Tasso – Shearman & Sterling;

Law Firms: Elvinger Hoss Prussen; Shearman & Sterling;

Clients: Ardagh Group S.A. ;

Author: Martina Bellini