* 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 shareprice)
By Foo Yun Chee
BRUSSELS, Dec 10 (Reuters) - U.S. drinks can maker Ball Corp is set to win EU approval for its 4.43-billion-pound($6.7 billion) bid for Rexam Plc with an improvedpackage of concessions, two people familiar with the mattersaid, boosting the UK firm's shares.
The world's two largest beverage can makers by volume areseeking to merge to improve management of capital spending andcosts. But the deal triggered concerns in the EuropeanCommission that it would drive up prices for companies andconsumers.
Last month, Ball offered to sell 11 plants across Europe,nine of which make cans and two produce can ends. Rivals andcustomers wanted a better mix, with more factories makingaluminium cans rather than steel which is an old technology.
Ball subsequently fine-tuned the package, the sources saidon Thursday, declining to provide details.
Rexam's shares rose as much as 2.6 percent to 597 penceafter the Reuters story, outperforming the FTSE 250 midcap index which was 0.2 percent lower by 1600 GMT. Ball was3.2 percent up at $71.
Commission spokesman Ricardo Cardoso declined to comment. ARexam spokesman could not be immediately reached for comment.
Ball spokeswoman Renee Robinson said: "Our regulatorydiscussions continue, but due to their sensitive nature, wecannot provide additional information at this time. The overalltransaction closing timeline remains the first half of 2016."
The Commission is scheduled to decide on the deal by Jan. 22but may push out a decision a week earlier.
The first package of concessions involve four factories inGermany, three in the UK, one each in Spain, France, theNetherlands and Austria.
The companies have hired investment bank Goldman Sachs GroupInc to find buyers for the assets, which could have asmuch as $200 million in annual earnings before interest, tax,depreciation and amortisation, according to other sources.
The can makers' customers include Coca-Cola Co andAnheuser-Busch InBev.
($1 = 0.6591 pounds) (Reporting by Foo Yun Chee; editing by Keith Weir and JaneMerriman)
