Standard Bank Corporate and Investment Banking and Sphere Holdings celebrate the successful close of the sale of Consol Holdings to Ardagh Group, a leading global supplier of infinitely recyclable, sustainable metal and glass packaging for brand owners around the world.
The transaction also caps a successful funding partnership between Sphere and the StandardBank Corporate and Investment Banking when in 2017 Sphere became a significant minority shareholder in Consol. The partnership has resulted in substantial value creation for both Sphere and Standard Bank, providing evidence of the partners’ commitment tosustainable deal structuring and risk reward sharing.
Itumeleng Kgaboesele, CEO, Sphere Holdings: “This is exactly the kind of opportunity-driven investment that Sphere seeks; one in which we can play an active role in supporting and adding value to management teams, and one that creates and delivers value for funders, shareholders and business partners. We wish Ardagh Group, and its new management team every success for the future.”