Saint-Gobain has completed its sale of Verallia North America (VNA) to Ardagh for US$ 1.69 billion. the proposed deal was first announced January 2013, but was delayed due to competition concerns raised by the US Federal Trade Commission (FTC). The originally proposed agreement would have resulted in the newly combined Ardagh/Saint-Gobain and O-I controlling a majority share of the US glass beverage market. To satisfy concerns of the FTC, Ardagh will sell six former Anchor Glass plants to an affiliate of KPS Capital Partners, a private equity fund manager. The six plants are its Anchor Glass' former headquarters in Tampa, FL and plants located in Elmira, NY; Jacksonville, FL; Warner Robins, GA; Henryetta, OK; Lawrenceburg, IND; and Shakopee, MN, according to the consent agreement. Ardagh previously acquired Anchor Glass in 2012 for Euros 720M. Once Ardagh has completed its acquisition of VNA and the sale of the six former Anchor plants, its North America glass division will generate estimated annual revenues of US$ 2BN. The division will operate from 16 glass manufacturing facilities across the US, employing some 5000 people. The transaction is set to reduce Saint-Gobain's net debt by US$ 1.28BN.
