Marval advises in the selling of Exal Packaging SA to Grupo Queruclor
Marval, O’Farrell & Mairal advised Grupo Exal in the transfer of the share package of Exal Holdings International B.V. and Element Netherlands Holdings Coöperatief U.A. in Exal Packaging S.A. to Grupo Queruclor.
After the transaction, signed on August 6, 2019, Exal Packaging S.A. was released from its obligations and liens under the Global Credit Facility.
The company is a leader in the aerosol filling industry, with a valuable state-of-the-art industrial plant.
Element Holdings II L.P., Element US Holding Company, Exal Brasil - Fabricação de Embalagens de Aluminio LTDA., Element Netherlands Holding Coöperatief U.A., Exal Holdings International B.V., Exal Corporation acted as co-borrowers and guarantors; Citibank N.A., Citizens Bank N.A., Keybanc National Association, Export Development Canada, Sumitomo Mitsui Banking Corporation, Stifel Bank & Trust, as lenders; Bank of Montreal, as administrative agent; and TMF Trust Company (Argentina) S.A. as Argentine collateral agent.
Counsel list:
Marval, O'Farrell & Mairal advised Grupo Exal with partners Pablo García Morillo and Fernando Hernández, and associates María Virginia Canzonieri, Agustina Marinelli and María Soledad Baratta.
Jorge Schiffer advised Grupo Queruclor.
Bunge, Smith & Luchía Puig advised the lenders, administrative agent and the Argentine collateral agent.