Rexam, the global consumer packaging company, today completed the sale of its specialist PET container business, Petainer. The business, which has been held for sale for some time, has been acquired by Next Wave and WHEB Ventures for £16m in cash. Petainer reported EBIT of £5m in the first half of 2009 (2008 full year: £3m), and the estimated exceptional loss on disposal will be some £9m.
The net proceeds will be used to pay down debt.
| David Robbie, Finance Director Sandra Moura, Head of Investor Relations +44 20 7227 4100 |
