Crown EMEA Food plans new debt financing for buyout by KPS

By Sara Rosenberg

New York, April 8 – Crown Holdings Inc.’s Europe, Middle East and Africa food, aerosol and promotional packaging business plans on getting new debt financing to help fund its acquisition by KPS Capital Partners LP from Crown, according to a news release.

Barclays, Deutsche Bank, BNP Paribas, Credit Suisse and UBS Investment Bank are leading the debt financing.

The EMEA food and consumer packaging business is being bought for €2.25 billion.

Crown will retain 20% ownership of the company.

Closing is expected in the third quarter, subject to customary conditions and approvals.

The EMEA food business is a manufacturer of steel and aluminum food packaging and a manufacturer of aerosol and promotional packaging.

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