Ardagh’s Combination of Its Food & Specialty Unit With Exal

Shearman & Sterling, Bomchil and Machado Meyer advised on the deal

Ardagh Group executed its agreement to combine its Food & Specialty Metal Packaging business with Exal Corporation, a producer of aluminum containers, to create a global packaging company with pro forma revenues and adjusted EBITDA in the 12 months ended March 31, 2019 of $2.7 billion and $469 million, respectively.

The new company will be known as Trivium Packaging. Upon closing the transaction, Ardagh will receive a 43 percent interest in Trivium and $2.5 billion in cash, while a subsidiary of the Ontario Teachers’ Pension Plan Board, Exal’s parent company, will receive a 57 percent interest in Trivium, subject to customary post-closing adjustments.

Shearman & Sterling advised Ardagh Group with a team including Clare O’Brien (Picture), George Karafotias, Lara Aryani, Andy Zwecker, Kenneth J. Laverriere, Gillian Emmett Moldowan, Laurence Bambino, Nathan Tasso, Jordan Altman, Kris Ferranti, Jason Pratt, Desta Hailu, Eric Grosshandler, JB Betker, Alfred Kossmann, Barbara Le Chapellier, Guillaume Isautier, Anders Kraft, David St-Onge and Stephen McNamara.

In Argentina, Bomchil advised advised Ardagh Group with Marcelo den Toom and Paula Beveraggi.

Machado Meyer advised advised Ardagh Group with Manuela Lisboa Gentil Monteiro, Tito Amaral de Andrade, Erica Sumie Yamashita and Tatiana Machado Soares.

Involved fees earner: Paula Beveraggi – M. & M. Bomchil; Marcelo den Toom – M. & M. Bomchil; Tito Amaral de Andrade – Machado Meyer Advogados; Manuela Lisboa Gentil Monteiro – Machado Meyer Advogados; Tatiana Machado Soares – Machado Meyer Advogados; Érica Sumie Yamashita – Machado Meyer Advogados; Jordan Altman – Shearman & Sterling; Lara Aryani – Shearman & Sterling; Laurence Bambino – Shearman & Sterling; JB Betker – Shearman & Sterling; Gillian Emmett Moldowan – Shearman & Sterling; Kris Ferranti – Shearman & Sterling; Eric Grosshandler – Shearman & Sterling; Desta Hailu – Shearman & Sterling; Guillaume Isautier – Shearman & Sterling; George Karafotias – Shearman & Sterling; Kenneth Laverriere – Shearman & Sterling; Alfred Kossmann – Shearman & Sterling; Anders Kraft – Shearman & Sterling; Barbara Le Chapellier – Shearman & Sterling; Stephen McNamara – Shearman & Sterling; Clare O’Brien – Shearman & Sterling; Jason Pratt – Shearman & Sterling; David St-Onge – Shearman & Sterling; Nathan Tasso – Shearman & Sterling; Andy Zwecker – Shearman & Sterling;

Law Firms: M. & M. Bomchil; Machado Meyer Advogados; Shearman & Sterling;

Clients: Ardagh Group S.A. ;

Author: Ambrogio Visconti