Regulators in the European Union have reportedly approved a EUR 1.7 billion acquisition of Dutch metal packaging company Impress Cooperative by Irish packaging maker Ardagh Glass Group, who will buy t…
Regulators in the European Union have reportedly approved a EUR 1.7 billion acquisition of Dutch metal packaging company Impress Cooperative by Irish packaging maker Ardagh Glass Group, who will buy the company from private equity firm Doughty Hanson. The acquisition is said to mean a return of EUR 688 million to investors in two of its funds. The European Commission said that the takeover would allow Ardagh to diversify its product range, without any current overlaps between the two firms. The Commission also investigated the effects of Ardagh“s enlarged product range and concluded that anticompetitive conglomerate effects would be unlikely, because of the presence of alternative and competing sources of supply for both glass packaging and metal cans, it said in a statement.