MELBOURNE, Australia (AP) -- Mining company Rio Tinto Ltd. said Tuesday it has completed divestment of its Alcan Packaging business following the sales of its final two assets, Medical Flexibles and Alcan Beauty Packaging.
Medical Flexibles, which comprises four North American plants, has been acquired by Amcor for $66 million after recently receiving U.S. Department of Justice approval.
The beauty packaging business was acquired by Sun European Partners LLP for an undisclosed sum, Rio said in a statement.
Rio Tinto has sold more than $10 billion in noncore assets since February 2008 to help pay off debts due mostly to its acquisition of Canadian aluminum giant Alcan for $38 billion in 2007.
