Global law firm White & Case LLP has advised Naturepak Limited and Evergreen Packaging International LLC on the sale of their Saudi joint venture, Naturepak Beverage Packaging Co. Limited and its Moroccan subsidiary, to Elopak ASA, a leading global supplier of carton packaging.
"The sale is an important milestone for our clients who have built a very successful company that has become the supplier of choice for many international groups in the region" said White & Case partner Marcus Booth, who led the Firm’s deal team. "This was a cross-border and cross-practice deal that demonstrates the way in which our clients benefit from the strength of White & Case in the Middle East and our global presence."
The sale is subject to certain third party and antitrust approvals and satisfaction of other customary closing conditions.
Naturepak Beverage Packaging Co. Limited is a joint venture formed by Saudi Arabia-based The Industrial Group, which specializes in packaging solutions, and Evergreen Packaging International, a wholly-owned subsidiary of Pactiv Evergreen Inc. It is a provider of fresh liquid carton and packaging systems in the MENA region with local production facilities in Morocco and Saudi Arabia.
The White & Case team which advised on the transaction was led by partner Marcus Booth (Dubai & London) and included partners Richard Jones, Will Smith (both London) and Ivan Paskal (New York), local partner Sonia Abdul-Rahman (Dubai), counsel Tamer Nagy (Washington, DC & Cairo), and associates Roger Gaspard, Christopher Thorn, Thomas Jacques (all Dubai), Philip Vavalidis (Dubai & London), Jad Slim, Reem Albakr (both Riyadh) and Peter North (London). deNovo Corporate Advisors acted as financial advisors to Naturepak Limited and Evergreen Packaging International. Elopak was advised by Norton Rose Fulbright, Freshfields Bruckhaus Deringer and LFSH, with BNP Paribas acting as financial advisor.
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