Rexam Russia Bid Blocked

Rexam's $297m purchase of Russia's beverage can maker Rostar, has been blocked by Russia's Federal Antimonopoly Service (FAS).

The FAS said the purchase would distort competition in the beverage can industry.

The proposed acquisition of Rostar would have given Rexam more than 96% of the Russian can-making market.

UK-based packaging company Rexam, who is currently the world's biggest maker of cans, has reportedly not given up on the venture.

Rexam, whose customers include Red Bull GmbH and PepsiCo, is seeking new markets as US growth in can consumption stagnates.
Source: packaging-technology