Global beverage can manufacturer Rexam has received a binding offer from Berry Plastics Group of $135m to acquire its Healthcare business’ remaining Containers & Closures division.
According to Rexam, the transaction, which requires consultation with French works council, is conditional on the necessary regulatory approvals.
The company hopes to complete the transaction around the middle of 2014.
The latest announcement follows that of 3 February 2014 regarding Rexam's proposed sale of the other two divisions within its Healthcare business.
Progressing according to plan, the transaction is expected to complete in the second quarter of 2014.