Amcor gets EC go-ahead for Alcan deal

Amcor has received European Commission approval to proceed with the acquisition of the European businesses of Alcan Packaging that Amcor is purchasing from Rio Tinto.

"Receiving approval from the European Commission is an important step toward closing the Alcan Packaging acquisition," Amcor managing director and chief executive Ken MacKenzie said in a statement on Tuesday.

In return, Amcor has agreed to divest two plants with combined sales of approximately 110 million euros ($175.82 million) producing 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 two plants to be divested represent less than five per cent of the combined sales in Europe and will not have a material affect on the synergies or operational improvements anticipated," Mr MacKenzie said.

The divestment undertaking was required to meet the European Commission's concern relating to pharmaceutical sachet and aluminium cold-form foil products.

The transaction remains subject to regulatory approval in the United States and consultation with the European Works Council.

The combined Amcor and Alcan packaging businesses in Europe has sales of approximately $US4.8 billion ($5.24 billion) in 75 plants.