Saint-Gobain issued update on the Verallia North America acquisition following complaint filed by the US Federal Trade Commission

19-7-2013 — /europawire.eu/ — On January 17, 2013, Compagnie de Saint-Gobain has accepted the purchase offer of Ardagh on Verallia North America for an enterprise value of $1,694 million (around €1,275 million), representing 6.5 times 2012 EBITDA (around $261 million). The transaction is subject to
authorization by the Federal Trade Commission (F.T.C).

Yesterday, the F.T.C. filed a complaint in Federal Court seeking to prevent the sale from being consummated. The parties – Ardagh and Saint-Gobain – are disappointed by the action taken by the Commission. Saint-Gobain and Ardagh intend to vigorously defend the transaction in litigation, whilst at the same time working with the FTC to seek to resolve its concerns.

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