Akin Gump Advises Kodak as It Completes Sale of Flexographic Packaging Division to Montagu
(New York) – Eastman Kodak Company and Montagu Private Equity LLP have announced the completion of the sale of Kodak’s Flexographic Packaging Division. Now part of Montagu’s portfolio, the division operates as a standalone company known as Miraclon. A team from Akin Gump advised Kodak in the deal.
Proceeds at close were approximately $320 million, which included the gross purchase price of $340 million less agreed indebtedness, other items and delayed proceeds related to a deferred close entity. The net proceeds from the transaction will be used by Kodak to reduce outstanding term debt, with the company expecting to refinance the remaining outstanding term debt.
- corporate partners Frederick Lee and Zachary Wittenberg; counsel Evan Goodman and Clare Joyce, and associates William Pelak, Doug Badini, John Sager, Sarah Withers, Penny Shumway and Alison Steed;
- international trade partner Wynn Segall;
- labor and employment partner Lauren Leyden, counsel Desireé Busching and associate Grace O’Donnell;
- tax partner Howard Jacobson and counsel Brandon Morris;
- employee benefits partner Aimee Adler and associate Aaron Farovitch;
- environment and natural resources practice group leader David Quigley and senior counsel Andrew Oelz;
- real estate partner John Allen Bain;
- antitrust partners Paul Hewitt and Corey Roush, senior counsel Stacy Kobrick and associate J. Matthew Schmitten; and
- cybersecurity, privacy and data protection practice co-leaders Michelle Reed and Natasha Kohne and counsel Michael Miller.
Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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