Australian packaging group Amcor Ltd. has gained European Commission approval to go ahead with the merger deal involving its European flexible packaging operations.
The three way merger with the flex…
Australian packaging group Amcor Ltd. has gained European Commission approval to go ahead with the merger deal involving its European flexible packaging operations. The three way merger with the flexible packaging operations of Danish group Danisco Flexible and Finland“s Akerlund & Rausing will create a new company, Amcor Flexibles Europe. The merged group will have annual sales of over Euro 1 billion (US$ 843.49 million) and 40 plants in 14 countries. The deal was announced in April with Amcor to contribute US$ 712 million for a 67% shareholding, comprising US$ 342 million for its existing business and US$ 370 million in cash. Danisco will hold a 25% stake and Ahlstrom, the parent company of Akerlund & Rausing, 8%. The merger is expected to be completed by the end of June.