Live Breaking News & Updates on M Ampa Gores Hldg Inc

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Feb 23 (Reuters) - Ardagh Group SA said on Tuesday it will spin off its metal packaging business through a merger with a listed blank-check firm backed by billionaire Alec Gores, in a deal that values the new company at $8.5 billion.
The deal with Gores Holdings V will provide a total infusion of $3.4 billion to the spun-off company, financed by a combination of $2.3 billion of new debt, $600 million from new investors and the capital raised in Gores Holding V’s initial public offering of shares last year.
Luxembourg-based global packaging group Ardagh operates 56 metal and glass production facilities in 12 countries, employing more than 16,000 people, according to its website. ....

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