The European Commission (EC) has approved US-based Ball’s proposed $4.96bn acquisition of Britain’s beverage-can maker Rexam.
Ball provides new and sustainable packaging solutions for beverage, food, and household products, while
UK’s Rexam manufactures beverage cans for various brands.
In addition, the EC has approved Luxembourg-based packaging firm Ardagh Group’s proposed acquisition of certain Ball and Rexam businesses.
In a statement, EC concluded "the proposed acquisition would raise no competition concerns, because Ardagh is not active in the manufacturing of beverage cans or related markets."
In April this year, Ball announced plans to sell certain manufacturing facilities in Europe, the US, and Brazil to Ardagh. They have offered to sell 12 plants across Europe, eight sites in the US and two in Brazil, as well as several other functions in Germany, the UK, Switzerland, Brazil, and the US.
Ball received final unconditional regulatory clearance in Brazil and is working to obtain the remaining US regulatory clearance soon, enabling the proposed acquisition of Rexam to close.