Acquisition and Equity Raising
18 August 2009 - 8:00AM
UK Regulatory
TIDM81BK
RNS Number : 5957X
Amcor Limited
18 August 2009
18 August 2009
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT
OR BENEFIT OF, U.S. PERSONS
AMCOR ANNOUNCES US$2,025 MILLION ALCAN PACKAGING ACQUISITION AND A$1,611 MILLION
FULLY-UNDERWRITTEN EQUITY RAISING
Amcor announces today that it has made a binding offer to acquire certain parts
of the operations of Alcan Packaging (the "Alcan Packaging Businesses"), a
business unit of the Rio Tinto Group, for a headline price of US$2,025 million1
(A$2,440 million2), subject to certain adjustments3, and regulatory approvals.
The businesses Amcor has offered to acquire are:
- Alcan Packaging Food Europe ("Food Europe")
- Alcan Packaging Global Pharmaceuticals ("Global Pharmaceuticals")
- Alcan Packaging Food Asia ("Food Asia")
- Alcan Packaging Global Tobacco ("Global Tobacco")
The acquisition is being funded through a combination of underwritten equity and
committed bank debt. The equity component is being funded by a fully
underwritten offer of A$1,611 million via a 4-for-9 non-renounceable pro rata
entitlement offer at A$4.30 per share.
For full details visit out website www.amcor.com
1 Approximately 70% of the headline purchase price is payable in EUR with the
remainder payable in US$.
2 Converted at A$1.00 = US$0.83
3 The headline purchase price of US$2,025 million is subject to an adjustment
based on the EBITDA of the Alcan Packaging Businesses for the year ended 31
December 2009, or the last 12 months prior to Completion if Completion occurs
before 31 December 2009, adjusted to a fixed exchange rate of EUR1.00 = US$1.31
("Adjusted LTM EBITDA").
This information is provided by RNS
The company news service from the London Stock Exchange
END
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