Sidley Represents Strategic Partnership Between Silgan and AIP in US$7.3 Billion Transaction to Create Diversified Global Metal Packaging Business

Sidley is advising a strategic partnership between Silgan Holdings Inc. (NYSE: SLGN) and American Industrial Partners (AIP) to acquire Trivium Packaging B.V. and to combine Silgan’s metal operations with Trivium. The transaction will create Silgan Metal Containers and Closures (Silgan MCC), a global supplier of metal packaging for essential consumer products, with operations across North America, Europe, and around the world.

The all-cash transaction values Trivium at approximately US$3.4 billion. As part of the formation and capitalization of Silgan MCC, Silgan will receive approximately US$2.3 billion of cash proceeds and retain a 60% controlling stake. AIP will own the remaining 40% and invest approximately US$1.0 billion of equity to support the acquisition and future growth of the business. Additional Silgan MCC capitalization will be provided by committed debt financing.

The proposed acquisition is expected to close in mid-2027, subject to required regulatory approvals, applicable works council consultation processes, and other customary closing conditions.

The cross-border Sidley team is led by Justin Macke, MK Han, and Adrian Zhang (M&A and Private Equity), with lawyers across the U.S., U.K., Germany, and Belgium including: Emily Chazen, Claudia Wang, Tanvi Sharan, David Hoff, Saeed Ahmad, Björn Holland, David Horan, Adam Runcorn, Andrew Cebula, Jennifer Limmer, Andrew Lecky, Campbell Yates, Sarah Braun, Florian Haug, and Milena Schoser (M&A and Private Equity); Karim Pirani, Eric Wolf, Amanda Casanueva, and Lindsay Fisher-McFarland (Employee Benefits and Executive Compensation); Margaret Allen, Peter McCorkell, Emily Wajert, and Alex Down (Labor, Employment and Immigration); Chris Boyle, Diane McEnroe, Josefine Sommer, Michelle Gandolfo, Victoria Kerr, and Kevin Sforza (Food, Drug and Medical Device); William Long, Ash Nagdev, Matthias Bruynseraede, Ben Cross, and Stephanie Lim (Privacy and Cybersecurity); Liz McCloy, Jared Feldman, Connor Evans, and Basil Eastman-Kiesow (Real Estate); Alana Genderson, Maureen Crough, Austin Pierce, and Sarah Jehl (Environmental, Health and Safety); Eric Grosshandler, Fraser Tudor, and Ryan Power (Tax); Stanley Boris, Paida Manhambara, and Noel Li (Banking, Payments and Fintech); Mike Bettinger, E. Kyle Barnett, and Fatima Butt (Technology and Life Sciences Transactions); Jen Fernandez and Maksym Podopryhora (Global Arbitration, Trade and Advocacy); Emmanuelle Turner and Amber Otto (Commercial Litigation and Disputes); Adriane Peralta and Amanda Blau (Product Liability and Mass Torts); Craig Dukin (White Collar Defense and Investigations); Samantha Cumming (Securities Enforcement and Regulatory); and Scott Goldstein (Insurance).