Amcor looking to sell three factories in the United States to satisfy American competition regulators for its $US 5.26 billion ($A7.15 billion including debt and pension liabilities) takeover of rival packager, Bemis.
Two factories are in Wisconsin and one in Massachusetts. They manufacture flexible packaging for healthcare related products.
US group, Tekni-Plex has agreed to pay $US215 million cash ($A300 million).
Amcor said that combined these operations generate annual sales revenue from the sale of flexible packaging for certain healthcare packaging products of approximately $US100 million.
“Total remedies required by the European Commission and DOJ represent an immaterial proportion of the total sales for the combined company and do not impact the USD 180 million of net cost synergies expected to be delivered by the end of the third year following completion,” Amcor said in yesterday’s short statement to the ASX.
The sale is still subject to approval, but once completed the Amcor-Bemis deal can proceed.
The settlement date for the takeover remains May 15.
Amcor shares rose 1% to $15.54.
