Pact Group Holdings Limited (ASX:PGH) entered into an agreement to acquire Australian Pharmaceutical Manufacturers Pty. Ltd. from Salisbury Cove Corporate Pty Ltd and Perpetual Corporate Nominees Pty Ltd for AUD 90 million in cash and stock on September 5, 2016. Under the terms of the transaction, Pact Group Holdings Limited will pay AUD 75 million in cash and issue 2.4 million shares. Out of 2.4 million shares, 1.2 million shares are subject to voluntary escrow for 12 months and will be released from escrow on September 16, 2017. The remaining 1.2 million shares are subject to voluntary escrow for 24 months and will be released from escrow on September 16, 2017. The acquisition will be funded by AUD 75 million of bank debt and a share issue of AUD 15 million. The acquisition price represents a multiple of 6.5 times historical EBITDA. The completion of the transaction is subject to customary conditions and expected to close on September 16, 2016. Warren Scott, Ross Levin, Venn King, Jacqui Murphy and Lee Kolbe of Mills Oakley Lawyers Pty Ltd acted as legal advisors for Salisbury Cove Corporate Pty Ltd and Perpetual Corporate Nominees Pty Ltd. Simon De Young and Tyson May of Baker & McKenzie acted as legal advisors for Pact Group. Pact Group Holdings Limited (ASX:PGH) completed the acquisition of Australian Pharmaceutical Manufacturers Pty. Ltd. from Salisbury Cove Corporate Pty Ltd and Perpetual Corporate Nominees Pty Ltd on September 16, 2016.