Zepos & Yannopoulos assisted KPS Capital Partners on the Greek leg of the acquisition of the European tinplate business from Crown Holdings Inc. in a deal valued at around €2.25bn. The European tinplate business comprises 44 manufacturing facilities in 17 countries in Europe, the Middle East and Africa which produce food cans and ends, aerosol cans, metal closures and promotional packaging for various consumer brands. In 2020, the business generated €1.9 billion in revenue and approximately €220 million in estimated standalone EBITDA and had approximately 6,300 employees.
Our firm advised on all Greek law parameters of the acquisition of the local tinplate and packaging business and the real estate facilities in Sindos and Skydra, including the corporate and tax structure of the Greek transaction, the establishment of the purchaser’s local subsidiary, the drafting and negotiation of the local transfer agreement and all other ancillary agreements and the performance of all actions and formalities required for the due transfer of the employees and the next-day smooth continuation of the business operation. The transaction was completed in August 2021.
Zepos & Yannopoulos team was led by partner and head of M&A and Project Development, Stefanos Charaktiniotis, assisted by senior associate, Danai Falconaki, and associate Georgina Karaindrou. Partner and head of Employment Rania Papakonstantinou, and partner, Manolis Zacharakis, assisted on all employment law aspects; while tax partner, Maria Zoupa and senior associate, Diana Tsourapa, advised on all relevant tax parameters and senior associates, Irene Kasapoglou and Yannis Kantartzis, and associate, Vera Lakrinti, from our tax & accounting practice group assisted on all tax, social security and accounting aspects of the transaction.
