Recently, Wendel has signed a term sheet to syndicate a minority stake of its equity investment in Constantia Flexibles to Maxburg Capital Partners (“MCP”), an investment firm backed by the RAG Foundation.
In this context, MCP is committed to buy off Wendel a minority stake in Constantia Flexibles (subject to final documentation) for €100 million representing c. 11% of the share capital. This investment is accompanied with a 12 years standstill agreement with Wendel, consistent with Maxburg Capital Partners and RAG Foundation’s long term horizon. For certain predetermined decisions, Wendel and MCP have agreed to exercise their voting rights similarly.
Maxburg Capital Partners is an independent investment firm focused on long-term value creation via investments in public and private companies in the DACH region, and is backed by the RAG Foundation as sole anchor investor. The RAG Foundation is a long term investor, which was established to discontinue coal mining in Germany in a socially acceptable manner by the end of 2018 and to ensure the financing of perpetual obligations of RAG’s coal mining activities in the German Ruhr and Saar regions.
Constantia Flexibles is one of the world's leading manufacturers of flexible packaging and labels.
