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23 July 2019 / deal

Loyens & Loeff advises Ontario Teachers' on the creation of a new metal packaging joint venture between Exal and the Ardagh Group

Loyens & Loeff has advised Ontario Teachers’ Pension Plan Board (“Ontario Teachers”), which currently controls Exal Corporation, a leading producer of aluminium containers, on all Swiss, Belgium and Dutch related matters in connection with the merger of Exal Corporation with the Ardagh Group, to form a new metal packaging joint venture.

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The new venture, Trivium, will be one of the biggest metal packaging companies in the world and headquartered in the Netherlands. Moreover, it will operate 57 production facilities in Europe and the Americas, employing 7’800 individuals. Over the next few years, Trivium expects to generate net combination benefits of approximately 40 million US-Dollars, from the pursuit of commercial and operational excellence opportunities. Trivium will supply their products to a wide range of leading multinational, regional and local customers operating in a wide range of end markets, including food, seafood, pet food, nutrition, beauty and personal care, household care as well as premium beverages.

The closing of the deal is expected in the fourth quarter of 2019.

Loyens & Loeff Switzerland advised Ontario Teachers’ in the transaction with a team consisted of Marco Toni, Aurélien Pasquier, Valérie Schrämli and Rebekka Schiltknecht.

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