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US/Ireland: Saint-Gobain not phased by FTC, glass buyout plans continue

By  |  July 24, 2013

Saint-Gobain said Wednesday that despite opposition by the US Federal Trade Commission to its divestment of Verallia North America, the company still expects to finalize the transaction by the end of this year. The FTC filed a complaint earlier this month against the deal, which would see the Verallia North America glass packaging business land in the hands of Ardagh Group, based in Ireland. The buyout is planned for $1.7 billion. Saint-Gobain chief executive Pierre-Andre de Chalendar told media that the company is working with regulators to quell any concerns against the deal.

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