Business
Rio Tinto Alcan may break up pack ops to ease saleJosh Brooks, 3 April 2008Be the first to comment on this article Aluminium giant Rio Tinto Alcan is likely to break up its 2.5bn packaging arm after appointing investment bank Morgan Stanley to sell the business. Nicholas Mockett, partner at Europa Partners, said a break-up would make sense because the business covered disparate areas that would appeal to various suitors. “Bite-size chunks will be easier to acquire for trade or private equity, all of whom will find acquisition finance expensive and quite difficult to secure,” he said. Rio Tinto said last year that it could sell the packaging business, which it gained in It is thought that Rio Tinto came close to selling the division to Sealed Air last year. Speak Your Mind |
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