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.

The Akin Gump team was led by corporate partners Dan Fisher and Iain Wood and counsel Nicholas Houpt, and included the following:

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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