Ardagh Group Creditors Prepare to Sign Cooperation Agreement (1)

Certain Ardagh Group SA creditors are preparing to sign a cooperation agreement that would maintain a united front as they examine their options after the packaging company cut a side deal with Apollo Global Management Inc., according to people with knowledge of the situation.

The pact would bind the creditors, with cross-holdings in the secured, unsecured and payment-in-kind debt, to act as a unit ahead of potential balance sheet negotiations, said the people, who asked not to be identified discussing a private matter. The group is working with Perella Weinberg Partners and Gibson Dunn & Crutcher, they said. ...