Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Amcor Offers to Acquire Certain Parts of Alcan Packaging

Hawthorn, Australia, 26 November 2009 --  Amcor has announced a binding offer to acquire certain parts of the operations of Alcan Packaging. The businesses to be acquired had sales of USD 4.082 billion in CY2008. The combined Amcor and Alcan Packaging sales are approximately USD 13 billion.

The acquisition is conditional on clearance by antitrust and competition authorities in the United States and the European Union, and various other regulatory approvals in other jurisdictions.

On 26 October 2009, the European Commission accepted Amcor’s antitrust filing and a decision on that filing was due on 30 November. The ruling will be delayed to 14 December due to a request by the Commission to extend its period of evaluation and to review the need for a potential remedy. 

Although Amcor believes that no part of the transaction will have an adverse effect on competition, the company anticipates that a remedy, if any, would involve the divestment of an Amcor flexible packaging plant with sales of less than USD 100 million. This possible sale of a single plant would not have a material effect on synergies. The combined Amcor and Alcan Packaging businesses in Europe currently have sales of approximately USD 4.8 billion in 75 plants.

With regard to the other regulatory approvals Amcor has already been granted approval in Australia, Canada, Russia, Turkey, and Ukraine, and is expected to obtain feedback from the Department of Justice in the United States in the coming weeks.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: