Ardagh in $880m US deal

Ardagh Group agreed to buy US-based peer Anchor Glass Container Corp from Wayzata Investment Partners funds for $880 million in cash.

17th July, 2012

Ardagh Group agreed to buy US-based peer Anchor Glass Container Corp from Wayzata Investment Partners funds for $880 million in cash.

Ardagh plans to raise $920 million equivalent to fund the purchase and refinance almost all of Anchor’s existing debt, the Luxembourg-based company said in an e-mail statement today. Ardagh is “committed to raising equity as soon as is practicable” after the transaction closes and intends to seek a public listing.

The acquisition,...

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