On January 17, 2013, Compagnie de Saint‑Gobain announced that it has agreed to sell its Verallia North America business to the Ardagh Group for an enterprise value of approximately US$1.7 billion. Verallia North America is the second largest glass container manufacturer in the United States. The transaction is subject to regulatory approval. Cravath acted as U.S. counsel to Saint‑Gobain in connection with this transaction.
The Cravath team included partner Christine A. Varney on antitrust matters; partner George A. Stephanakis and associate Benjamin C. Hewitt on corporate matters; and partner Stephen L. Gordon and associate Matthew Y. Lau on tax matters.
