Amcor Seeks to Raise A$1.2 Billion for Alcan Buy, Review Says

Source from:  Bloomberg 07/07/2009

Amcor Ltd. is seeking to raise A$1.2 billion ($957 million) to help fund the purchase of Rio Tinto Group's food and tobacco packaging assets in Europe, the Australian Financial Review reported, without citing anyone. The share sale by Australia's biggest packaging company will fund about 43 percent of the overall purchase price of the unit, which is valued at A$2.8 billion, the newspaper reported. A deal is close to being completed after Rio Tinto sold the Food Americas business of Alcan Packaging to Bemis Co. yesterday, the newspaper reported. Amcor won't buy the beauty packaging business because the company doesn't have experience in the sector, the Review said. Enditem