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Updated / Tuesday, 23 Feb 2021 11:57 Paul Coulson is the chairman and CEO of Ardagh Group Ardagh Group said today it will spin off its metal packaging business through a merger with a listed blank-check firm backed by billionaire Alec Gores, in a deal that values the new company at $8.5 billion. The deal with Gores Holdings V will provide a total infusion of $3.4 billion to the spun-off company. This will be financed by a combination of $2.3 billion of new debt, $600m from new investors and the capital raised in Gores Holding V s initial public offering of shares last year. Luxembourg-based global packaging group Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people, according to its website. ....
(2) Combined Company Expected to Have Post-Transaction Enterprise Value of Approximately $8.5 Billion Business Combination Includes up to $525 Million in Cash from Gores Holdings V and $600 Million Private Placement Led by Top-Tier Investors Ardagh Group to Retain Approximately 80% Stake in Ardagh Metal Packaging and Receive up to $3.4 Billion in Cash Ardagh Group S.A. ( Ardagh ) (NYSE: ARD), a global supplier of infinitely-recyclable metal beverage and glass packaging for the world s leading brands, and Gores Holdings V, Inc. ( Gores Holdings V ) (NASDAQ: GRSV, GRSVU and GRSVW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, today announced that they have entered into a definitive business combination agreement under which Gores Holdings V will combine with Ardagh s metal packaging business that will be held by Ardagh Metal Packaging S.A. (the Company, Ardagh Metal Packaging or AMP ) to create an independent public company ....
Ardagh Metal Packaging To Combine With Gores Holdings V And List On NYSE Combined Company Expected to Have Post-Transaction Enterprise Value of Approximately $8.5 Billion Business Combination Includes up to $525 Million in Cash from Gores Holdings V and $600 Million Private Placement Led by Top-Tier Investors Ardagh Group to Retain Approximately 80% Stake in Ardagh Metal Packaging and Receive up to $3.4 Billion in Cash News provided by Share this article Share this article LUXEMBOURG AND LOS ANGELES, Feb. 23, 2021 /PRNewswire/ Ardagh Group S.A. ( Ardagh ) (NYSE: ARD), a global supplier of infinitely-recyclable metal beverage and glass packaging for the world s leading brands, and Gores Holdings V, Inc. ( Gores Holdings V ) (NASDAQ: GRSV, GRSVU and GRSVW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, today announced that they have entered into a definitive business combination agreement under which Gores Holding ....