Business News
Reynolds Group Holdings Limited Announces the Completion of its Acquisition of Pactiv Corporation
Friday 19. November 2010 - On 17 August 2010, Reynolds Group Holdings Limited ("Reynolds Group") announced its intention to acquire all of the outstanding stock of Pactiv Corporation (the "Acquisition"). The Acquisition was completed on 16 November 2010, for $33.25 per share (in cash), for a total purchase price of approximately US$4.6 billion.
The Acquisition was partially funded with a portion of the proceeds from the new senior indebtedness comprised of (i) $1,500,000,000 aggregate principal amount of 7.125% senior secured notes due 2019, (ii) $1,500,000,000 aggregate principal amount of 9.000% senior notes due 2019 and (iii) $2,020,000,000 in incremental term loans incurred under a senior secured credit agreement dated as of 5 November 2009, as amended (the “New Financing Indebtedness”).
This press release is for informational purposes only and is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful. The New Financing Indebtedness has not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption from registration requirements.
Further information in respect of the Acquisition and the New Financing Indebtedness can be found at Reynolds Groups website which can be accessed at the following link: http://www.reynoldsgroupholdings.com . Unaudited pro forma financial information relating to the Acquisition is included in the Holder Notification – Notice of Additional Information Related to the Pactiv Acquisition dated 8 October 2010 which is posted on the website.