A Luxembourg district court judge has ordered Ardagh Holdings SA (AHSA) not to continue, for now, with any sale of all or part of its holding in Ardagh Metal Packaging (AMP).
The ruling came after a unilateral (ex parte) request by certain minority investors holding senior secured toggle notes due in 2027 and issued by ARD Finance, which was a parent of Ardagh Group before its recapitalisation deal was completed in 2025.
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In the previous month, the company appointed advisers to examine a possible disposal of its AMP unit as part of a review of one of the group’s main businesses.
That process could include selling some or all of AHSA’s indirect equity stake in AMP to an outside buyer.
Evercore International Partners is AHSA’s financial adviser while Kirkland & Ellis International is serving as lead legal adviser.
The order was made without AHSA being able to put forward its case beforehand.
In a statement, the company said: “AHSA strongly believes that the application is without merit. It is vigorously challenging the order and has made an application for it to be withdrawn.”
A part of Ardagh Group, AMP runs 23 production sites across nine countries, has 6,500 employees and posted sales of $5.5bn in 2025.
Ardagh Holdings has 58 metal and glass packaging plants in 16 countries, around 20,000 employees and sales of $9.6bn.
