LONDON, May 13 (Reuters) - Rexam, the world's secondlargest beverage can maker in terms of revenue, is to return 450million pounds ($759.21 million) of cash to shareholders, itsaid on Tuesday.
The move follows completion of the sale of thepharmaceutical devices and prescription retail packagingdivisions of its healthcare packaging business, announced May 6.
Rexam said the return, equating to 57 pence a share, will beimplemented by way of a "B/C share scheme", intended to provideshareholders with a choice to receive the cash either as capitalor as income, or as a combination of the two.
The firm also plans an eight for nine share consolidation.
The cash return is subject to shareholder approval at a May29 meeting.
($1 = 0.5927 British Pounds) (Reporting by James Davey; Editing by Neil Maidment)