Key Developments: Rexam PLC (REXMF.PK)
7.75USD
23 May 2013
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Latest Key Developments (Source: Significant Developments)
Rexam PLC Proposes Final Dividend
Rexam PLC announced that the board is proposing a final dividend of 10.2 pence per share, making a total dividend of 15.2 pence for the year, a 6% increase. The final dividend will be paid on May 22, 2013 to shareholders on the register at close of business on April 26, 2013. Full Article
Rexam PLC To Complete Sale Of Personal Care Business
Rexam PLC announced that it has received approval from the Chinese authorities and anticipates completion of the sale of its Cosmetics, Toiletries and Household care products business to an affiliate of Sun European Partners, LLP for USD459 million in cash, subject to closing accounts adjustment. This, together with the sale of the High Barrier Food business (as announced on August 31, 2012), finalises the sale of Rexam's Personal Care business for a total of USD709 million (GBP439 million) subject to adjustments. Full Article
EU Clears Sun Capital Buy Of Rexam PLC's Toiletries Unit-Reuters
Reuters reported that Private equity firm Sun Capital Partners won EU regulatory approval to acquire British drinks maker Rexam's cosmetics, toiletries and household care business for $459 million. Rexam, which makes Red Bull and Pepsico cans as well as packaging for food, healthcare and cosmetic products, is selling the unit, because of rising costs and lower volumes at the underperforming business. The European Commission, which acts as competition regulator, said the proposed deal would not hurt competition in the 27-member European Union. Full Article
Rexam PLC Completes Sale Of High Barrier Food Business
Rexam PLC announced that it has completed the sale of its High Barrier food container business (as announced on July 3, 2012) to a subsidiary of Silgan Holdings Inc. for $250m in cash. Full Article
Rexam PLC Announces Interim Dividend
Rexam PLC announced that the Board is increasing the interim dividend by 6% to GBP0.05 per share. The interim dividend will be paid on September 4, 2012, to holders of shares registered on August 10, 2012. Full Article
Silgan Holdings Inc. Announces Agreement To Acquire Rexam PLC Rexam’s Plastic Thermoformed Food Business
Silgan Holdings Inc. announced that it has entered into a definitive purchase agreement to purchase Rexam PLC's plastic thermoformed food business. The purchase price for this transaction is $250 million. The transaction is expected to close in the third quarter of 2012 and Silgan expects to fund the purchase price from cash on hand. Full Article
Rexam PLC-Chairman Of The Board To Retire February 2012
Rexam PLC announced that Sir Peter Ellwood, Chairman, has informed the Board of his intention to retire from the Company at the close of business on February 22, 2012. Sir Peter will be succeeded by Stuart Chambers, who will join the Board as a non executive director and Chairman Designate on February 1, 2012. Full Article
Rexam PLC Proposes Interim Dividend
Rexam PLC announced that the Board is proposing to increase the interim dividend by 18% to 4.7p per share. The interim dividend will be paid on October 4, 2011, to holders of shares registered on September 9, 2011. Full Article
Hindustan Tin Works Ltd And Rexam PLC JV To Invest INR2.2 Billion In Two Years For Capacity Expansion-DJ
Dow Jones reported that Hindustan Tin Works Ltd and Rexam PLC will invest INR2.2 billion (GBP30 million) to expand the production capacity of their joint-venture beverage-can-manufacturing facility in western India over the next two years. The two companies expect to increase the plant's capacity to 850 million cans a year from the current 300 million cans, they said in a joint statement. The facility is located in the town of Taloja near Mumbai. Full Article
Rexam PLC To Sell Closures For $360 Million
Rexam PLC announced that it has agreed to sell its beverage and speciality closures business (Closures) to Berry Plastics for $360 million in cash, subject to certain asset adjustments. Completion is expected in Q3 2011 and is conditional on regulatory approvals. The Closures business employs about 1,500 people and is focused on the North American market. Rexam plans to right-size its Plastic Packaging operations as a result of this transaction. This is expected to give rise to an exceptional charge of around GBP25 million, of which GBP15 million will be cash costs. The net proceeds will be used to reduce net debt. Full Article
Rexam says beverage-can volume grew below its expectations
April 18 - Beverage-can maker Rexam Plc said can sales volume grew 3 percent in the first quarter, but was still slightly below its expectations due to weakness in Russia and a slow start to the year in the rest of western Europe.
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