White & Case LLP has advised The Smithfield Group, managing shareholder of Innovia Group, on the CAN$1.13 billion (€810 million) sale of Innovia to CCL Industries Inc.
The transaction is subject to regulatory and other change of control approvals and customary completion procedures, with closing expected by the end of the first quarter of 2017.
The Smithfield Group buys, operationally improves and grows European and North American headquartered businesses, returning value to its global investor base when the businesses are sold. UK-headquartered Innovia, which employs around 1,200 people, is the global leader in high-tech products for packaging and industrial applications and banknotes.
Toronto Stock Exchange-listed CCL Industries is the world’s largest speciality label business, with a market value in excess of CAN$8 billion and more than 20,000 employees located in 156 production facilities in 35 countries across six continents.
The White & Case team which advised on the transaction was led by partner Ian Bagshaw (Picture) and included partners Nicholas Greenacre, Lindsey Canning and Emma Parr (all London), local partner Katarzyna Czapracka (Warsaw) and associates Jarlath McGurran, Steven Worthington, James Turner, Irina Kozlova, James Golunski and Charlotte Kelly (all London).
Involved fees earner: Ian Bagshaw – White & Case; Emma Parr – White & Case; Jarlath McGurran – White & Case; Steven Worthington – White & Case; James Turner – White & Case; Nicholas Greenacre – White & Case; Charlotte Kelly – White & Case; Lindsey Canning – White & Case; Katarzyna Czapracka – White & Case; James Golunski – White & Case;
Law Firms: White & Case;
Clients: Smithfield Group;