Crown has received the European Commission (EC) approval to acquire Spanish food cans and ends manufacturer Mivisa Envases from investment funds managed by affiliates of The Blackstone Group, N+1 Mercapital and management, for €1.2bn.
According to Crown, the transaction would be closed on 23 April 2014. An agreement related to the acquisition had been signed by the firms on 31 October 2013.
The acquisition would help Crown, which operates 147 plants in 40 countries, enhance its business operations in the European food can segment.
Earlier, EC granted approval subject to certain conditions and commitments, which have been satisfied now.
With operations in the Iberian Peninsula and Morocco, Mivisa manufactures two- and three-piece food cans and ends primarily for firms that produce vegetable, fruit, fish and meat.
Mivisa currently operates ten manufacturing units, including six in Spain and one in Morocco.
