Packaging company Amcor Ltd
(ASX:AMC) says it is considering selling a flexible packaging plant to try and gain approval from the European Commission for its acquisition of certain Rio Tinto Alcan Packaging assets.
The company says a decision from the European Commission on Amcor’s antitrust filing was due on November 30, however has now been postponed till December 14 after the Commission requested to extend its period of evaluation as well as review the need for a potential remedy.
Amcor says the possible sale of the plant, which has annual sales of less than US$100 million, will not have a material impact on synergies.
Amcor has already been granted approval in Australia, Canada, Russia, Turkey and Ukraine and is expected to obtain feedback from the US Department of Justice in the coming weeks.
Amcor’s profits have fallen in the last couple of years.
