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Ball Agrees To Sell Assets To Secure Approval For Rexam Deal

Mon, 25th Apr 2016 05:32

VIENNA (Alliance News) - Ball Corp on Monday said it and Rexam PLC have entered into an agreement with Ardagh Group to sell select metal beverage can assets, support locations and functions in Europe, Brazil and the US for approximately USD3.42 billion in connection with Ball's proposed acquisition of Rexam.

Ball expects to close on its proposed offer for Rexam by the end of June 2016.

Ball believes that after the consummation of the acquisition of Rexam and taking into account the disposal of the divestment business, it will be able to achieve net annual cost synergies in excess of USD300 million by the end of the third financial year.

Copyright RTT News/dpa-AFX

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18 Feb 2016 10:09

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18 Feb 2016 07:05

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(ShareCast News) - Rexam was looking at a year of positive sales growth on Thursday, but fluctuations in currency and lower prices saw earnings head south in the 12 months to 31 December. The FTSE 100 beverage can manufacturer saw sales increase by 2% over the year, to £3.93bn (from £3.83bn). Its un

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11 Feb 2016 16:09

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9 Feb 2016 14:09

Ball Refinances Debt Ahead Of Completing Rexam Acquisition

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15 Jan 2016 11:32

EU clears Ball/Rexam merger, subject to divestments

(ShareCast News) - The European Commission has approved the acquisition of London-listed drinks can maker Rexam by US rival Ball Corp, subject to the divestment of 12 plants in Europe. The regulator said its investigation showed that the deal, as notified, would have cut competition in the already c

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15 Jan 2016 11:25

Ball Corp Gets Approval In Europe For Rexam Acquisition

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15 Jan 2016 11:05

EU clears Ball, Rexam merger subject to 12 plant divestments

BRUSSELS, Jan 15 (Reuters) - The European Commission said on Friday that it had approved U.S. drinks can maker Ball Corp's planned 4.43 billion pound ($6.35 billion) purchase of Rexam Plc subject to the divestment of 12 plants. "The Commission's investigation showed that the transaction,

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29 Dec 2015 15:41

Ball Corp Gets Approval In Brazil For Rexam Acquisition

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10 Dec 2015 16:20

UPDATE 2-Ball set to win EU approval for $6.7 bln Rexam deal- sources

* Ball initially offered to sell 11 European plants * Company has fine-tined package of concessions * World's two largest beverage can makers to merge (Adds Ball comments, Ball share price, updates Rexam share price) By Foo Yun Chee BRUSSELS, Dec 10 (Reuters) - U.S. drin

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10 Dec 2015 11:00

EU regulators reportedly set to approve Rexam/Ball deal

(ShareCast News) - EU antitrust regulators are set to approve Ball Corp's bid for drinks can maker Rexam after it improved its concessions, according to reports. European competition regulators announced in July that they had opened an investigation into US-based Ball's bid for Rexam. The European

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10 Dec 2015 10:43

Eu antitrust regulators set to approve Ball, Rexam deal - sources

BRUSSELS, Dec 10 (Reuters) - EU antitrust regulators are set to approve Ball Corp's 4.43-billion-pounds ($6.7 billion) bid for Britain's Rexam Plc after the U.S. drinks can maker improved its concessions, two people familiar with the matter said on Thursday. Last month, Ball offered to sell

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25 Nov 2015 21:39

UPDATE 1-Ball offers EU to sell 11 plants for Rexam deal approval-sources

(Adds details on Goldman Sachs and the sale process) By Foo Yun Chee and Greg Roumeliotis BRUSSELS/NEW YORK, Nov 25 (Reuters) - U.S. drinks can maker Ball Corp is ready to sell 11 European plants to get EU antitrust regulators to approve its 4.43 billion pound ($6.69 billion) acquisit

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