Amcor to sell Tobepal operations in Spain to Constantia Packaging for €92M; divestment required by European Commission in approving acquisition of parts of Alcan Packaging

Sandy Yang

MELBOURNE , July 21, 2010 (press release) – Amcor announces today, that it has reached agreement to sell its Tobepal operations in Spain to Constantia Packaging AG for a consideration of Euro 92 million.

This divestment was required by the European Commission at the time of approving Amcor’s acquisition of parts of the Alcan Packaging business.

The divestment to Constantia has been approved by the European Commission. Closing is expected within the coming months.

The business sold is expected to have an EBIT for fiscal year 2009/10 of approximately Euro 11 million and sales of Euro 103 million.

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.