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
