Broomfield-based Ball Corp. said Tuesday that Brazil’s antitrust agency gave its blessing for the beverage can maker’s $6.7 billion buyout of Rexam PLC.
The Conselho Administrativo de Defesa Economica’s approval results in final regulatory clearance in Brazil.
CADE’s Dec. 9 decision was conditional. Ball and Rexam are the two largest metal can producers in the country, so the combined company would have significant market share, , citing Gilvandro Araujo, the reporting commissioner in the case.
To gain CADE’s approval, Ball and Rexam will have to sell some plants to an independent buyer in a transaction approved by the administrative council, CADE officials said.
Ball officials, in a statement, said they expect to obtain the remaining regulatory approvals in the coming months. Ball intends to close on the acquisition with Rexam in the first half of 2016.
