EU Clears $2B Amcor Deal For Alcan, With Divestiture

Law360, New York (December 16, 2009, 6:48 PM EST) -- The European Commission has cleared Amcor Ltd.'s proposed $2.03 billion acquisition of Rio Tinto Group's Alcan Packaging, contingent on Amcor's divesting a major part of its pharmaceutical flexible packaging business.

The commission approved the deal on Tuesday, saying that the proposed transaction would not significantly impede effective competition in the European Economic Area.

In order to remedy the EC's competition concerns, Alcan has agreed to divest its Tobepal operation, which consists of two plants in Spain that have combined sales of approximately €110 million and produce...
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