January 9: World leading beverage can manufacturer Rexam has been cleared to buy its competitor in Russia, Rostar.
London-based Rexam made a $297 million bid for Rostar last July which was rejected by Federal Antimonopoly Service of the Russian Federation (FAS) in September.
It was thought that because Rexam would be the only manufacturer of beverage cans in the Russia Federation, it would have a monopoly. Rexam argued that beverage cans represented just 13 percent of drinks packaging in the sector.
