Ms. Emilie Blouin reports
ONEX PARTNERS ANNOUNCES SECONDARY SALE OF SIG COMBIBLOC
Onex Corp. and its affiliated funds have sold approximately 31.4 million shares of SIG Combibloc Group, a leading system and solution provider for aseptic carton packaging. All amounts are in U.S. dollars unless otherwise stated.
At the placement price of 13.30 Swiss francs per share, gross proceeds to the Onex group will be approximately $422-million, of which Onex's share will be approximately $148-million as a limited partner in Onex Partners IV and as a co-investor. The Onex group will continue to hold approximately 101.8 million shares of SIG for an interest of 32 per cent. Onex will continue to hold approximately 35.8 million shares for an 11-per-cent interest.
The placement, which was made through an accelerated book-building process to institutional investors, is expected to close on Nov. 18, 2019, subject to customary closing conditions.
With respect to each member state of the European economic area (each a member state), no offer of the shares has been made and will not be made to the public in that member state in accordance with the prospectus regulation, and no action has been undertaken or will be undertaken to make an offer to the public of the shares sold by the investors requiring a publication of a prospectus in any member state. As a consequence, the shares may only be offered or sold in any member state pursuant to an exemption under the prospectus regulation.
No action has been taken by Onex or any of its affiliates that would permit an offering of such shares or possession or distribution of this announcement or any other offering or publicity material relating to such shares in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required by Onex to inform themselves about, and to observe, any such restrictions. Persons (including, without limitation, nominees and trustees) who have a contractual or other legal obligation to forward a copy of this announcement should seek appropriate advice before taking any action.
About Onex Corp.
Founded in 1984, Onex invests and manages capital on behalf of its shareholders, institutional investors and high-net-worth clients from around the world. Onex's platforms include: Onex Partners, private equity funds focused on larger opportunities in North America and Europe; ONCAP, private equity funds focused on middle market and smaller opportunities in North America; Onex Credit, which manages primarily non-investment-grade debt through collateralized loan obligations, private debt and other credit strategies; and Gluskin Sheff's actively managed public equity and public credit funds. In total, Onex has approximately $38-billion of assets under management, of which approximately $7.0-billion is its own shareholder capital.
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