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Brazil: $8.2B Ball-Rexam deal approves after antitrust fixes

 |  December 13, 2015

US drink can maker Ball Corp. has won Brazilian approval of its proposed $8.2 billion acquisition of UK peer Rexam PLC, although certain plants will have to be divested, the country’s antitrust watchdog said.

The tribunal of Brazil’s competition watchdog, the Administrative Council for Economic Defense, or CADE, on Wednesday approved a merger that would constitute a tie-up of the two biggest producers of metal beverage cans in the country.

The first package of concessions involve four factories in Germany, three in the UK, one each in Spain, France, the Netherlands and Austria.

The companies have hired investment bank Goldman Sachs Group to find buyers for the assets, which could have as much as £131.7 million in annual earnings before interest, tax, depreciation and amortisation, according to other sources.

Full content: Istoe Dinheiro

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