Ogier advises Filtrona plc on its £142m placing

Ogier in Jersey have advised Filtrona plc, the plastics and fibre specialist, on a placing of up to approximately 9.99% of its existing issued ordinary share capital (the Placing) which raised £142.7 million. The proceeds of the Placing will be used to support the funding of the acquisition of Contego Healthcare Limited by a subsidiary of Filtrona, FIL International Limited, for approximately £160 million (on a debt free-cash free basis).

Contego Healthcare Limited is a leading pan-European specialist business and provides a range of innovative print, packaging and support services to the pharmaceutical and healthcare markets from operational sites across Europe.

Ogier advised Filtrona plc throughout the transaction on all aspects of Jersey law and on the cash box placing vehicle structure in conjunction with Slaughter and May.  The Placing, which was announced on 19 March 2013, was conducted by an accelerated book-building process. Deutsche Bank AG, London Branch, acted as lead manager and bookrunner in connection with the Placing.

The Ogier Jersey legal team was led by partner Raulin Amy who was assisted by Paul Burton, Managing Associate and Laura Hendrick, Associate. 

Commenting on the transaction, Raulin Amy said “We are delighted to have assisted Filtrona plc with its fundraising to expand its business into the pharmaceutical and healthcare markets and hope that the use of the cashbox structure leads to continued growth for the company".