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LUXEMBOURG - Ardagh Metal Packaging S.A., a global beverage packaging company with a market capitalization of $2.25 billion, announced Tuesday that its parent company Ardagh Group S.A. (AGSA) has received sufficient consents from noteholders to meet key conditions for its ongoing recapitalization transaction.
According to the company, Ardagh has secured the required majority consents to meet the SSN 50% Condition, SUN 50% Condition and PIK Notes 50% Condition, allowing the respective issuers to implement proposed amendments.
While Ardagh has received enough consents to meet the SSN 90% Condition and SUN 90% Condition, it is re-opening the consent solicitations for its Existing SUNs and Existing SSNs. However, the PIK Notes 90% Condition was not met, and Ardagh will not re-open that consent solicitation, instead opting to effect the recapitalization for those notes through an alternative implementation.
The recapitalization transaction, initially announced on July 28, involves AGSA, which indirectly owns approximately 76% of Ardagh Metal Packaging’s outstanding ordinary shares and all of its outstanding preferred shares.
The company emphasized that these consent solicitations and the broader recapitalization transaction will not impact the listing of Ardagh Metal Packaging’s shares or its capital structure, which will remain a subsidiary of AGSA. According to InvestingPro analysis, the stock currently appears fairly valued, with analysts setting price targets between $3.75 and $5.00 per share.
Ardagh Metal Packaging describes itself as a global supplier of metal beverage cans, operating 23 production facilities across nine countries with approximately 6,000 employees and sales of about $4.9 billion in 2024.
The information in this article is based on a press release statement from the company.
In other recent news, Ardagh Metal Packaging reported its third-quarter 2025 earnings, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $0.08, exceeding the forecasted $0.07 by 14.29%. Revenue also surpassed projections, reaching $1.43 billion compared to the anticipated $1.38 billion, marking a 3.62% increase. These figures highlight the company’s strong financial performance for the quarter. The earnings announcement was followed by a notable pre-market increase in the stock price, although specific stock price movements are not the focus here. The positive earnings results may influence future analyst assessments and investor sentiment. Overall, these developments reflect Ardagh Metal Packaging’s recent financial achievements.
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