The Carlyle Group Inc. (NasdaqGS:CG) agreed to acquire Esmalglass, S.A.U. from Lone Star Fund X, L.P., managed by Lone Star Americas Acquisitions, Inc., for €1.9 billion on December 17, 2021. The transaction is valued at multiple of 9.5 times ebitda. Carlyle will secure senior secured term loan B and senior secured revolving credit facility financing for the transaction.

The transaction is subject to customary regulatory approvals and is expected to close in H1 2022. As of March 21,2022, the EC has approved the transaction. Ignacio Pallarés, David Walker, Fernando Colomina, Charles Armstrong, John Hutton, Catriona Severns and Aitor Errasti, Jordi Domínguez and Sean Finn of Latham & Watkins LLP and Elizabeth Torrecillas, Manuel Echenique and Raul Boo of Uría Menéndez Abogados, S.L.P. acted as legal advisor to The Carlyle Group Inc. Francisco Iso, Jordi Farrés, Isabel Moya, Pablo Hontoria, Tobías Kálnay and Felipe Ramírez of Pérez-Llorca Abogados, S.L.P. y CÍA, S.Com.P. acted as legal advisor to Lone Star Americas Acquisitions, Inc. Juan Barona, Javier Hernandez and Ana Lopez of Linklaters LLP advising the lenders on the financing to Carlyle for the acquisition of Altadia.

Santander Group acted as financial advisor to Esmalglass. Citigroup CIB acted as financial advisor to Lone Star Americas Acquisitions, Inc. Suhrud Mehta, Alan Rafferty and Miko Bradford of Milbank LLP acted as legal advisors to the mandated lead arrangers in relation to financing of the acquisition. Morgan Stanley (NYSE:MS) is acting as financial advisor to The Carlyle Group Inc.