7th Jan 2010 07:00
7 January 2010
Regulatory Approvals Update
On 23 December 2009, Amcor Limited announced that the consultation process with the European Works Council relating to Amcor acquiring certain parts of Alcan Packaging from Rio Tinto PLC has been successfully completed.
Following completion of the European Works Council consultation, Rio Tinto Plc has formally signed the Sale and Purchase Agreement.
On 29 December 2009, Amcor announced that the US Department of Justice terminated the Hart-Scott-Rodino premerger waiting period, allowing Amcor to acquire substantially all of the operations of Alcan Packaging and limiting its ongoing review to Alcan's Medical Flexibles operations in the US.
A decision on whether Amcor is able to acquire Alcan's Medical Flexibles operations in the US will be made following a detailed review of the market by the US Department of Justice.
In summary, regulatory approvals have been granted in Europe, United States, Australia, Canada, Russia, Turkey and Ukraine.
In Europe, Amcor has agreed to divest two plants and in the US, Amcor has agreed to hold back on acquiring four plants.
The decision of the US Department of Justice allows the acquisition to proceed on all of the operations except Alcan's Medical Flexibles operations in the US.
ENDS
For full details visit our website www.amcor.com
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