Ball Corp, Rexam to sell some assets to Ardagh for $3.42 bln

Mon Apr 25, 2016 1:52am EDT
 
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April 25 (Reuters) - Drinks can maker Ball Corp said it along with British rival Rexam Plc agreed to sell some assets to Luxembourg-based Ardagh Group for about $3.42 billion to meet antitrust regulations ahead of their planned merger.

The companies will sell some metal beverage can assets, support locations and functions in Europe, Brazil and the United States to Ardagh Group, Ball Corp said on Monday.

Reuters had earlier reported that Ball and Rexam have begun the process of shedding assets for regulatory approval.

($1 = 0.6932 pounds) (Reporting by Parikshit Mishra in Bengaluru; Editing by Gopakumar Warrier)