Ardagh Group S.A. the controlling shareholder of Ardagh Metal Packaging S.A.  which indirectly owns approximately 76% of the Company's outstanding ordinary shares and all of the Company's outstanding preferred shares (the "AMPSA Preferred Shares" and, together with the AMPSA Ordinary Shares, the "AMPSA Interests"), is engaging in negotiations with certain holders of its senior secured notes (the "SSNs," these certain holders the "SSN Holders") and certain holders of its senior unsecured notes (the "SUNs," these certain holders the "SUN Holders," and together with the SSN Holders, the "Holders"). Certain of the SSN Holders hold SUNs, while certain of the SUN Holders hold SSNs.

AGSA provided updates on its discussions with the Holders (the "Update"), which, among other things, summarize its latest proposal to the SUN Holders and SSN Holders  and the SUN Holders' counterproposal. The Update indicates that both the AGSA proposal and the SUN Holders' counterproposal include a potential divestment by AGSA of its AMPSA Interests, subject to the AGSA board's approval, to a new special purpose vehicle holding structure ("New BidCo") owned by existing indirect shareholders of AGSA and by participating holders of the SUNs.

The Update indicates that AGSA continues to engage in constructive discussions with the Holders with a view to agreeing and executing a consensual restructuring transaction, with AGSA to provide further updates in due course. The full text of the Update is available on AGSA's investor relations website at ir.ardaghgroup.com.

 

Source: prnewswire.com

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