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Jenner & Block is representing Silgan Holdings Inc., a leading supplier of rigid packaging for consumer goods products, in its binding offer to acquire the dispensing business of Albea for $900 million. This business is a leading global supplier of highly engineered pumps, sprayers and foam dispensing solutions to major branded consumer goods product companies in the Beauty and Personal Care markets. It operates a global network of 10 plants across North America, Europe, South America and Asia.
The transaction is expected to close in the first half of 2020 and is subject to the receipt of applicable regulatory approvals and the satisfaction of certain customary conditions. Upon completion of the required works councils consultations, Silgan expects that Albea and certain of its subsidiaries will enter into a definitive purchase agreement with Silgan and certain of its subsidiaries for the purchase and sale of the business. Silgan expects to fund the purchase price for this proposed acquisition with a combination of cash on hand and borrowings under the Company’s senior secured credit facility, including a committed incremental delayed draw term loan.
Partner Robert J. Rawn is leading Jenner & Block’s multidisciplinary team that includes corporate counsel from Oleksandr Polonyk, Julia L. Reeves and Kristen M. Iglesias; financing counsel from Brian Hart, Young Woo (Ariel) Cho and Spencer A. Lee; tax counsel from Geoffrey M. Davis; employee benefits counsel from Matthew J. Renaud and Jenna A. Bressel; environmental counsel from Steven Siros and Matthew G. Lawson; intellectual property counsel from Steven R. Englund; and real estate counsel from Michelle M. McAtee and Rita L. Feikema.
Silgan is also represented by Linklaters LLP on the proposed acquisition.