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EU Clears $1.67B Packaging Merger With Divestitures

Law360, New York (March 14, 2014, 3:06 PM EDT) -- The European Commission on Friday cleared consumer packaging goods giant Crown Holdings Inc.'s €1.2 billion ($1.67 billion) merger with private equity-owned Mivisa Envases SAU on the condition that Crown divest several metal can plants that posed competition risks.

The European Union antitrust enforcer approved the deal, which will combine the Philadelphia based-Crown and Spanish tin packaging producer Mivisa, based on the commitments the companies offered in late February.

Those fixes call for Crown to sell off five of its metal can plants in Spain that produce...
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