Crown Holdings Pays $1.65B For Spanish Canner Mivisa

Law360, New York (October 31, 2013, 1:15 PM EDT) -- Consumer packager Crown Holdings Inc agreed to buy Spanish canning company Mivisa Envases SAU from Blackstone Group affiliates for €1.2 billion ($1.65 billion) in cash, the companies announced Thursday.

Crown Holdings said it was attracted by Mivisa's profitable growth in recent years as a result of its manufacturing efficiency, customer relationships and savvy investing. The transaction will close during 2014, assuming it wins the blessing of European Union regulators.

"We are excited about the acquisition of Mivisa, as it will significantly build upon Crown’s existing position...
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