UK - Montagu loses Linpac in restructuring

Houlihan Lokey were appointed advisers to Montagu and Linpac in March.

The deal sees Linpac's debt reduced by half to £320m and lenders are expected to pump £65m into the business. The deal should be closed by year-end.

During the hodling period Montagu appointed a new chief executive and chairman. In 2005 it sold Linpac's containers division for £170m, and was rumoured to have attempted to sell the business in 2006 for upwards of £1bn. In 2007 the business was recapitalized, with Montagu recouping the majority of its investment.

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