On 15 December 2009, the European Commission gave phase I approval for the acquisition of the flexible packaging and folding carton business of Alcan Packaging by Amcor Limited ("Amcor") from Rio Tinto plc.
The Commission found that the transaction created competition concerns in the European market for flexible packaging in the pharmaceutical sector and was concerned that the merged entity would have a strong position in relation to the sale of pharmaceutical sachets and cold form foil used for pharmaceutical blister packs.
The Commission's decision is conditional upon the divestiture of two of Amcor's plants, which represent less than 5% of the merged group's combined sales in Europe.
SJ Berwin LLP acted on behalf of Amcor.
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