Luxembourg Court Blocks Ardagh Holdings Metal Packaging Sale
Ardagh Holdings SA is barred by a Luxembourg district court from selling its interests in Ardagh Metal Packaging SA following a minority noteholders' application.
A district court in Luxembourg has barred Ardagh Holdings SA from selling all or part of its interests in Ardagh Metal Packaging SA. The ruling comes after an application was filed by minority holders of senior secured notes issued by ARD Finance SA, a former parent company of the Ardagh Group.
Ardagh Holdings SA, a major European producer of glass bottles and metal cans, announced the court order in a statement on Wednesday. The legal block complicates efforts by the company's new owners to monetize the metal-packaging unit, which is regarded as one of the group's most valuable assets.
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