US approves Amcor’s acquisition of Alcan Packaging

29 December 2009 17:18  [Source: ICIS news]

TORONTO (ICIS news)--Amcor has received US approval to acquire substantially all of the operations of Alcan Packaging, the Australia-based international packaging firm said on Tuesday.

Not included in the approval by the US Department of Justice (DOJ) was Alcan’s Medical Flexibles business, which would be reviewed in detail by the department, Amcor said.

Amcor in August offered to acquire large parts of Alcan’s packaging business for $2.0bn (€1.4bn) from mining group Rio Tinto, including Food Europe, Food Asia, Global Tobacco and Global Pharmaceutical, in an effort to create one of the world’s leading packaging companies.

The European Commission cleared the deal earlier this month, subject to Amcor’s divestment of the bulk of its pharmaceutical flexible packaging business in Europe.

Also on Tuesday, US packaging firm Bemis said it was still in discussions with the DOJ to address concerns over its planned $1.2bn acquistion of Alcan Packaging's Food Americas operation.

Alcan Packaging became a subsidiary of Rio Tinto in 2007 when Rio acquired Canadian aluminium major Alcan in a $38.1bn deal. At the time, Rio Tinto said it planned to sell the packaging business.

($1 = €0.70)

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