Ball Corporation and Rexam PLC have entered into an agreement with Ardagh Group to sell select metal beverage can assets, support locations and functions in Europe, Brazil and the United States for approximately $3.42 billion.
Completion of the sale of the divestment business is subject to a number of conditions, including receipt of certain regulatory approvals and completion of Ball’s acquisition of Rexam.
The sale of certain European assets within the divestment business is subject to completion of mandatory employee consultation processes.
Ball will sell seven Rexam metal beverage can manufacturing plants and one Rexam end plant in the United States; eight Ball beverage can manufacturing plants, two Ball end plants and two Rexam beverage can manufacturing plants in Europe; two Ball beverage can manufacturing plants in Brazil; and certain innovation and support functions in Bonn, Germany, Chester, UK, Zurich, Switzerland, Sao Paulo, Brazil, and Chicago and Elk Grove, Illinois, in the United States.
Ball expects to close on its proposed offer for Rexam by the end of June 2016.
Assuming a successful completion of the transaction, Ball will remain a New York stock exchange listed company domiciled in the US with global headquarters in Broomfield, Colorado.
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