Ball receives regulatory OK from Brazil to acquire Rexam

BROOMFIELD — Ball Corp. (NYSE: BLL) has received regulatory approval in Brazil for its $6.7 billion acquisition of Rexam PLC. Approval came from the Conselho Administrativo de Defesa Economica, the Brazilian antitrust agency.

Broomfield-based Ball, a manufacturer of cans, expects to attain remaining regulatory clearances during the first half of 2016. Ball last month offered to sell 11 European plants to win European Union approval of the deal. Nine of the European plants manufacture cans, while two manufacture can ends.

Ball also last month announced plans to raise $2.5 billion through a public offering of senior notes to fund the cash portion of its acquisition of Rexam.

Combination of Ball and Rexam would create the world’s largest consumer packaging supplier, with command of more than 60 percent of the beverage-can market in North America, 69 percent in Europe and 74 percent in Brazil. The combined company would employ a workforce of about 22,500 employees across five continents and generate annual revenue of about $15 billion.

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