Ardagh Group S.A. agreed to acquire Consol Holdings Limited for ZAR 10.1 billion on November 26, 2021. Ardagh expects to finance the acquisition through a combination of its own cash resources and the assumption of ZAR 5.7 billion existing net debt at Consol. In the year to June 30, 2021, Consol reported consolidated revenues of ZAR 9 billion. Completion of the acquisition is subject to certain conditions, including regulatory approvals that are expected to be obtained in the second quarter of 2022. Citigroup acted as exclusive financial adviser to Ardagh, and Barclays acted as exclusive financial adviser to Consol.