Webber Wentzel won Private Equity Team of the Year for advising Consol Holdings Proprietary Limited (Consol) the leading producer of glass packaging in Africa, and its shareholders on the USD 1 billion acquisition of Consol by Ardagh, the world's largest glass manufacturer.
The acquisition represents a significant inward investment into the South African, Kenyan, Ethiopian, and Nigerian markets where Consol operates. As part of the transaction, Ardagh committed to a further USD 200 million investment programme in two new furnaces in South Africa. This investment is expected to create more than 250 direct jobs in South Africa, with significant resulting ancillary supply-chain expenditure. The transaction also represents a long-awaited exit for Consol's private equity shareholders, who took Consol private in 2007.
Webber Wentzel advised Consol and all its private equity shareholders (namely Brait, Old Mutual, Sanlam, and Harbourvest) as well as its major empowerment shareholder, Sphere Investments, on the disposal.
Webber Wentzel's team of lawyers from various practice groups worked around the clock to deliver high-quality advice and manage the requirements of all the major sellers as well as all four relevant jurisdictions to enable the parties to sign within the targeted time period. This also enabled the parties to close the transaction within hours of the final regulatory approvals being received.
See below other awards Webber Wentzel won at the African Legal Awards:
ESG Initiative of the Year
Environment, Energy & Natural Resources Team of the Year
Litigation and Dispute Resolution Team of the Year
M&A Team of the Year
Webber Wentzel won the African Legal Awards for African Law Firm of the Year