Australian packaging company Amcor has been given the go-ahead for its $6.8bn merger with U.S. flexible packaging company Bemis following approval by the European Commission.
The EC has approved the merger under the EU Merger Regulation, with the approval conditional ‘on the divestment of Bemis’ medical packaging business in Europe.’ This would cover three plants in the UK and Ireland, which are thought to generate around $170 million annual revenues in healthcare packaging.
Amcor will retain its European healthcare packaging business as well as develop its foothold in high-end markets.
Amcor released a statement that read, “The process toward securing required antitrust clearances and other regulatory consents in all jurisdictions, which are conditional to closing, have either been completed or are progressing in line with expectations.”
The companies are expected to complete the deal in the second quarter of 2019.