Amcor has received European Commission (EC) approval to proceed with the acquisition of the Alcan Packaging, that Amcor is purchasing from Rio Tinto.
A condition of this approval is Amcor agreeing to divest its Tobepal operation comprising two plants that have combined sales of approximately E110m and produce a range of pharmaceutical, personal care and food packaging products. The plants are located in Spain and are part of the Amcor Flexibles operations.
The company said that divestment undertaking was required to meet the EC’s concern relating to pharmaceutical sachet and aluminium cold-form foil products. The transaction remains subject to regulatory approval in the US and consultation with the European Works Council.
The combined Amcor and Alcan Packaging businesses in Europe currently have sales of approximately $4.8 billion in 75 plants.
Ken MacKenzie, managing director and CEO of Amcor, said: “Receiving approval from the European Commission is an important step toward closing the Alcan Packaging acquisition.
“The two plants to be divested represent less than 5% of the combined sales in Europe and will not have a material affect on the synergies or operational improvements anticipated.”