Amcor will finally be able to go ahead and buy Alcan Packaging from Rio Tinto Plc. Receiving the go ahead from European Commission was an important step towards this acquisition, according to Amcor Managing Director And Chief Executive, Ken MacKenzie. The combined Amcor and Alcan Packaging businesses in Europe currently have sales of approximately $US4.8 billion ($A5.24 billion) in 75 plants.

The go ahead by EC has been given with a clause. Owing to the concern EC has towards pharmaceutical sachet and aluminum cold-form foil products, Amcor has agreed to divest its Tobepal operations.

The two plants, located in Spain, were manufacturing pharmaceutical, personal care and food packaging products. The revenue loss estimated to be about €110 million ($A175.82 million) will be more than compensated for by the Alcan deal, which is still subject to US regulatory approval and consultation with the European Works Council.

Amcor raised $1.611 billion of capital earlier this year to help fund the deal. At 1250 AEDT, Amcor shares had edged down 0.16 per cent to $6.19, against a 0.66 per cent rise in the benchmark index.