Ball Corp. and Rexam Plc, which are combining into the biggest maker of food and beverage cans, agreed to sell assets to Ardagh Group SA, a glass and metal packaging company, for $3.42 billion.
Ball expects to complete its purchase of Rexam by the end of June, the company said in a statement Monday.
The European Union approved Ball’s 4.4 billion pound ($6.4 billion) acquisition of Rexam after the company agreed to sell 12 plants on the continent to eliminate antitrust concerns.
Apollo Global Management, Blackstone Group LP and Madison Dearborn Partners were also among bidders for the assets, which could fetch about $4 billion, people familiar with the matter said in March.
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