Pestalozzi advises Reynolds group on its USD 4.66 billion sale of SIG Combibloc Group AG to Onex Corporation
Reynolds Group has agreed to sell SIG Combibloc Group AG to Onex Corporation for up to EUR 3.75 billion (USD 4.66 billion). The transaction is anticipated to close in the first quarter of 2015, subject to customary conditions and regulatory approvals. SIG Combibloc is one of the world's leading system suppliers of carton packaging and filling machines for beverages and food. It was acquired by the Rank Group of New Zealand in 2007 and had been part of Rank’s Reynolds Group Holdings division of packaging businesses. In 2013 the company achieved a turnover of EUR 1.68 billion with around 5,100 employees in 40 countries. Pestalozzi advised Reynolds and SIG on all Swiss legal aspects of the transaction.