Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising GCL Holdings LP S.à.r.l., an entity ultimately controlled by aPriori Capital Partners LP and co-invested by Melville S.r.l. (‘Melville’), on the sale of Guala Closures (‘Guala’). Melville is controlled by NB Renaissance Partners Holdings S.à.r.l., a wholly owned subsidiary of NB Renaissance Partners, which is a partnership managed by Neuberger Berman Group.

Guala is a leader in specialty closures for the food, beverage and pharmaceutical industries, and is headquartered in Italy with operations in more than 100 countries around the world.

Space4 is the fourth special purpose acquisition company (‘SPAC’) sponsored by Space Holding and listed on the Borsa Italiana.

The sale values Guala at approximately EUR1.1 billion and is conditional on the receipt of shareholder and regulatory approvals.  It is expected to close in the third quarter of 2018, when Space4 and Guala will merge such that Guala becomes listed on the Borsa Italiana.

The Freshfields team is being led by partner Sam Newhouse and senior associate Richard Johnson in London; and partner Nicola Asti and senior associate Luca Sponziello in Milan. Partner Charles Hayes also advised. Financing advice is being led by partner Denise Ryan, antitrust advice is being led by partner Alex Potter and tax advice is being provided by partner Peter Clements. Employment and pensions advice is being led by partner Andrew Murphy.