Regulatory Approval

 

TIDM81BK 
 
RNS Number : 1094D 
Amcor Limited 
25 November 2009 
 

26 November 2009 
 
 
UPDATE ON REGULATORY APPROVALS 
 
 
In August 2009, Amcor announced that it had made a binding offer to acquire 
certain parts of the operations of Alcan packaging. 
 
 
The businesses to be acquired had sales of US$4,082 million in CY2008. The 
combined Amcor and Alcan Packaging sales are approximately US$13 billion. 
 
 
The acquisition is conditional on clearance by antitrust and competition 
authorities in the United States and the European Union, as well as various 
other regulatory approvals in other jurisdictions. 
 
 
On October 26th 2009 the European Commission accepted Amcor's antitrust filing 
and a decision on that filing was due on November 30th. 
 
 
There will now be a two week delay on that ruling to December 14th due to a 
request by the Commission to extend its period of evaluation as well as review 
the need for a potential remedy. 
 
 
Although Amcor believes that no part of the transaction will have an adverse 
impact on competition, we anticipate a remedy, if any, would involve the 
divestment of an Amcor flexible packaging plant with sales of less than $US100 
million. This possible sale of a single plant would not have a material impact 
on synergies. The combined Amcor and Alcan Packaging businesses in Europe 
currently have sales of approximately US$4.8 billion in 75 plants. 
 
 
With regard to the other regulatory approvals Amcor has already been granted 
approval in Australia, Canada, Russia, Turkey and Ukraine, and is expected to 
obtain feedback from the Department of Justice in the US in the coming weeks. 
 
ENDS 
 
 
For full details visit out website www.amcor.com 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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