DLA Piper advises Weidenhammer Packaging Group on share sale
DLA Piper has advised the shareholders of Weidenhammer Packaging Group on sale of all of their shares in Weidenhammer Packaging Group to US-listed Sonoco Products Company. The purchase price amounts to €286 million in cash, subject to net debt and working capital adjustments. The transaction is still pending regulatory approval by the relevant cartel offices.
Sonoco intends to create a global leadership within the rigid paper packaging through this transaction and to significantly increase its global annual sales, particularly within the European market.