Sonoco Products Eyes Eviosys Acquisition and Secures Funding

An update from Sonoco Products (SON) is now available.

Sonoco Products Company has entered into a Put Option Agreement with Titan Holdings and its subsidiary Eviosys to potentially acquire all issued equity interests in Eviosys. The agreement is contingent on various terms and conditions, including the completion of a Consultation Process with the European Works Council. The purchase price for the transaction is set at €3.615 billion, with payment options in cash, common stock, or a combination of both, depending on whether a Qualified Common Shares Offering occurs before the closing. Additionally, the Company has secured a Bridge Loan Facility of up to $4 billion to finance the transaction. The deal, which is subject to customary closing conditions including regulatory approvals, is anticipated to conclude by the end of 2024.

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