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Update on the sale of Verallia North America

Post Time:Nov 12,2013Classify:Industry NewsView:40

On January 17, 2013, Compagnie de Saint-Gobain has accepted the purchase offer of Ardagh on Verallia North America for an enterprise value of $1,694 million (around €1,275 million), representing 6.5 times 2012 EBITDA (around $261 million). The transaction is subject to authorization by the Federal Trade Commission (F.T.C).Yesterday, the F.T.C. filed a complaint in Federal Court seeking to prevent the sale from being consummated. The parties - Ardagh and Saint-Gobain - are disappointed by the action taken by the Commission. Saint-Gobain and Ardagh intend to vigorously defend the transaction in litigation, whilst at the same time working with the FTC to seek to resolve its concerns. 03.07.2013, Saint-Gobain\ Verallia North America

Source: http://www.glassglobal.com/news/update_on_the_sale_of_verallia_north_america-22539.htmlAuthor:

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