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  5. Rexam Has Deal To Sell Rest Of Healthcare Packaging Unit For USD135 Million

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Rexam Has Deal To Sell Rest Of Healthcare Packaging Unit For USD135 Million

Mon, 24th Mar 2014 08:02

LONDON (Alliance News) - Beverage can maker Rexam PLC Monday said it has a binding deal to sell the rest of its healthcare containers and closures unit to Berry Plastics Group Inc for USD135 million in cash.

Last month, Rexam had said it would return about GBP450 million to shareholders once it received USD805 million cash proceeds from the proposed sale of most of its healthcare packaging unit. In a statement Monday, the company said this deal is progressing according to plan and it expects the deal to complete in the second quarter of 2014, after which it make the shareholder payout.

Rexam expects the new deal for the rest of the healthcare packaging unit to complete in about the middle of 2014, although it needs to be approved by regulators and needs consultation with the French works council.

By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1

Copyright © 2014 Alliance News Limited. All Rights Reserved.

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UPDATE 1-EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

(Adds details of probe) By Foo Yun Chee and Julia Fioretti BRUSSELS, July 20 (Reuters) - European Union antitrust regulators have opened an in-depth investigation into whether U.S. drinks can maker Ball Corp's 4.4 billion pound ($7 billion) offer for Britain's Rexam Plc will lead to h

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20 Jul 2015 16:55

EU regulators to probe U.S. drinks can maker Ball's bid for Rexam

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Rexam finance director Robbie to take leave of absence due to illness

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UPDATE 1-EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

(Adds background, timing of deal) BRUSSELS, June 16 (Reuters) - European Union market competition regulators are set to decide by July 20 whether to approve the 4.4 billion-pound ($6.9 billion) merger deal between Ball Corp and Rexam Plc, the world's two largest makers of drinks cans. Read more

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EU regulators to decide by July 20 on Ball's $6.9 bln Rexam bid

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