November 25, 2014
Onex Corporation (“Onex”) (TSX: OCX) has announced it has agreed to acquire SIG Combibloc Group AG (“SIG”) for up to €3.75 billion ($4.66 billion). €3.575 billion ($4.44 billion) will be paid at the closing of the transaction, with an additional amount of up to €175 million ($217 million) payable based on the financial performance of SIG in 2015 and 2016. The transaction is anticipated to close in the first quarter of 2015, subject to customary conditions and regulatory approvals.
Latham & Watkins advised Onex on the transaction with a team led by London corporate partner Mike Bond, London finance partner Jay Sadanandan and Washington, D.C. capital markets partner Rachel Sheridan, with Munich corporate partner Kilian Helmreich, London corporate partner Tom Evans and London associates Farah O’Brien and Saad Mian. Advice was also provided on finance matters by Washington, D.C. partner Scott Forchheimer, D.C. associate Shagufa Hossain and London associate Anthony Kay; on tax matters by London partner Sean Finn and associate Amy Watkins, Munich partner Stefan Suess and New York Partner David Raab; on antitrust matters by London partner John Colahan. Thomas Rohde of Bar & Karrer advised the purchaser as to matters of Swiss law.
Latham’s London office has recently advised on a number of high-profile private equity transactions, including The Carlyle Group’s acquisition of Dealogic, Cision’s acquisition of Gorkana Group Limited and EQT VI’s acquisition of Siemens Audio Solutions.