Friday, July 27, 2012
Shearman & Sterling is representing the Ardagh Group in its acquisition of Anchor Glass Container Company from private investment funds managed by Wayzata Investment Partners LLC in a transaction involving total cash consideration of US $880 million (€721 million). The transaction is subject to US regulatory approval and other customary closing conditions.
Shearman & Sterling also advised on the financing of this deal, comprising of offshore and private placements of €260 million 7.375% First Priority Senior Secured Notes due 2017, $350 million 7.375% First Priority Senior Secured Notes due 2017, and $210 million 9.125% Senior Notes due 2020. The proceeds of the bond offering are to be held in escrow pending the completion of the acquisition.
Anchor, which is headquartered in Tampa, Florida, is a technologically advanced manufacturer of glass containers serving the North American food and beverage industries. Anchor is the third largest glass container manufacturer in the US, producing approximately 5.6 billion containers annually from its eight facilities located in the United States.
The Shearman & Sterling team included partners Christa D’Alimonte andDavid Connolly (New York-Mergers & Acquisitions), Apostolos Gkoutzinis(London-Capital Markets), Peter Hayes (London-Finance), Craig Gibian(Washington, DC-Tax), Michael Shulman (Washington, DC-Tax), Doreen Lilienfeld (New York-Executive Compensation & Employee Benefits), Malcolm Montgomery (New York-Real Estate), Samuel Waxman (New York-Intellectual Property Transactiosn, and Alan Goudiss (New York-Litigation); counsel Jason Pratt (New York-Real Estate/Environmental),Mehran Massih (London-Environmental), Gabrielle Wong (London-Finance) and Harald Halbhuber (New York-Capital Markets); and associates Tammara Fort, Benjamin Brod, Ed Mullen, Natalee Vernon, and Michael Dockery (New York-Mergers & Acquisitions); Shane Burke, Marsili Hale, Tom Berisford, and Monsiree Jirasarunya (London-Finance); Christina Leto, Melanie Probst, Kara Major, Yaw Asare, and Randall Nahle (London-Capital Markets); Timothy Hanson (New York-Executive Compensation & Employee Benefits); Noah Stacy and Ryan Mahoney (New York-Real Estate); Jordan Altman and Jung Yoo (New York-Intellectual Property Transactions); Jeffrey Tate (Washington, DC-Tax), and Jonathan Skinner (New York-Real Estate/Environmental).
Kinney Recruiting prides itself on placing the best lawyers in ideal legal jobs. Our recruiters strive to ensure that all of our placements are the best possible career moves for both candidates and the hiring law firm. If you are thinking about a lateral move, the only choice is Kinney!