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Amcor in bid to buy Rio Tinto’s aluminium packaging business

  •  9 February 2009
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AMCOR says it is in discussions to acquire part of Rio Tinto’s aluminium packaging unit.

Rio Tinto is now struggling financially after it bought Alcan in 2007. In order to deal with its debts, the mining company is trying to sell non-core assets.

In addition to Amcor, Rio Tinto is in talks with Sealed Air and Bemis, who are also reported to be interested in the $4b packaging business.

Melbourne-based Amcor says discussions are not yet complete, and that it can make no assurances regarding any binding proposals or transactions.

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