(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 makerBall Corp is ready to sell 11 European plants to get EUantitrust regulators to approve its 4.43 billion pound ($6.69billion) acquisition of Britain's Rexam Plc, peoplefamiliar with the matter said.
The world's two largest beverage can makers by volume want tomerge to better manage capital spending and cut costs. TheEuropean Commission, however, fears the deal would push upprices for companies and consumers.
The combined company would have 60 percent of the beveragecan market in North America, 69 percent in Europe and 74 percentin Brazil, according to Morningstar analysts.
Ball is prepared to divest four factories in Germany, threein the UK, one each in Spain, France, the Netherlands andAustria, the sources said on Wednesday. Nine of the plants makecans and two of them can ends. The offer was submitted to theCommission last week.
Ball has said it is willing to sell more than $1.58 billionworth of assets to allay regulatory concerns. The company isalso in discussions with antitrust authorities in the UnitedStates about assets it may have to divest in that country.
Ball and Rexam have hired investment bank Goldman SachsGroup Inc to find buyers for the assets that they willsell, according to the sources. Goldman has already contactedother companies and private equity firms to solicit interest,even as the final package of assets earmarked for sale has notbeen finalized, the sources added.
In total, the assets for sale could have as much $200million in annual earnings before interest, tax, depreciationand amortization, according to one of the sources. Ball has saidit is willing to sell more than $1.58 billion worth of assets toallay regulatory concerns.
Ball, Rexam and Goldman Sachs offered no immediate comment.
Rexam's customers include Coca-Cola Co andAnheuser-Busch InBev.
The EU competition authority has given third parties untilWednesday to provide feedback and is likely to extend thedeadline. It is scheduled to decide on the case by Jan. 22.
($1 = 0.6621 pound) (Reporting by Foo Yun Chee in Brussels and Greg Roumeliotis inNew York; editing by David Evans and Alan Crosby)
