Baker McKenzie has acted in an ASX-listed firm’s acquisition of a pan-Asian packaging business.
The global firm advised Pact Group Holdings in its agreements to acquire the Asian packaging operations, excluding Japan, of Closure Systems International and Graham Packaging from Reynolds Packaging. The deal is valued at $142m.
To fund the acquisition, Pact made an entitlement offer for $176m, which Baker McKenzie also provided advice on.
“The business to be acquired by Pact has a diverse geographical footprint, encompassing seven manufacturing sites located in the PRC, the Philippines, South Korea, India and Nepal,” said Simon De Young, lead partner on the deal. “Baker McKenzie was able to deploy a seamless team solution to the assessment and management of the complex legal issues arising from the implementation of a multi-jurisdictional carve out transaction of this nature.”
Rick Troiano, Baker McKenzie partner acting on the capital raise, said the firm provided seamless Australian, international, and US securities legal advice with its Sydney-based US securities law team led by partner Andrew Reilly.
De Young and Troiano were supported by partner Adrian Lawrence; special counsel Julie Cox; senior associate Tyson May; associates Paul Anderson, Ju Young Lee, and Tim Pirera; and lawyers Emanuel Carbone and Jake Spain. Baker McKenzie's China team was led by partner Tracy Wut.
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