Gores Holdings V announced that it expects to close its previously announced business combination with Ardagh Metal Packaging on 4 August.

In the business combination, Gores Holdings V will merge with a subsidiary of AMP, a global leader in the supply of sustainable and infinitely-recyclable beverage cans, and AMP will become a publicly traded company.

Ardagh will retain an approximately 80% stake in AMP and receive up to $3.4 billion in cash in the transactions. 

Oliver Graham, CEO of Ardagh Metal Beverage, will be CEO of AMP. Paul Coulson, Chairman and CEO of Ardagh, will serve as Chairman and Shaun Murphy, COO of Ardagh, will serve as Vice Chairman of the Company following the closing of the transaction.

The Company intends to apply to list its shares on the New York Stock Exchange (“NYSE”) under the new ticker symbol “AMBP”.

Like what you read? metalpackager.com/subscribe