Resources giant Rio Tinto on Wednesday said it has accepted a $2.025 billion (R15.7 billion) offer by Amcor for the sale of the Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia divisions.
Rio Tinto received a binding offer from Amcor for these businesses in August and the group said the transaction has recently been cleared by the European Commission.
It said clearance was awaited from the Department of Justice in the US.
Since February 2008, Rio Tinto has announced asset sales of $10.3 billion, including the Amcor transaction.
During 2008, Rio Tinto completed divestments totalling $3.1 billion and during 2009, Rio Tinto has agreed asset sales of $7.2 billion and completed $3.6 billion of these.
Completed transactions include Ningxia (aluminium), Potasio Rio Colorado (potash), Corumb (iron ore), Jacobs Ranch (coal), Alcan Composites and the Cloud Peak IPO.
Agreed sales yet to complete include Alcan Packaging global pharmaceuticals, global tobacco, food Europe and food Asia, Alcan Packaging Food Americas and Maules Creek (Coal & Allied). - I-Net Bridge