Ardagh is a company that looks different from different angles.  From one perspective, it’s a simple business. Albeit a big one. It owns glass bottle and metal can factories. They sell to the biggest food and drink companies in the world. Their bottling factories are so closely linked with customers that the bottles run through the wall, directly into their customer’s factory next door.  From another perspective, Ardagh Group is a complex beast. It’s a multi-layered corporate entity. The trading company has publicly listed subsidiaries, joint ventures with private equity, and is controlled by a holding company. The two sides…

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