Rexam completes disposal of loss-making division

Consumer packaging giant Rexam has completed the disposal of its Personal Care division, selling off the final part of the loss-making unit.

Consumer packaging giant Rexam has completed the disposal of its Personal Care division, selling off the final part of the loss-making unit.

The company, which proposed to sell the division back in July in two parts, has now received the approval from Chinese authorities for the sale of its Cosmetics, Toiletries and Household care products business to Sun European Partners for $459m in cash.

Advertisement - Article continues below

Following the other sale of its High Barrier Foods business in August, the whole Personal Care division has now been offloaded for a total of $709m (£439m).

First-half statutory pre-tax profits at Rexam fell from £192m to £166m as Personal Care put a £171m dent in the bottom line.

As part of its initial sale proposal, Rexam said that it would return around £370m to shareholders following the completion of the disposal.

"Rexam anticipates that on or aboutJanuary 8th 2013 it will post a circular to shareholders regarding the proposed return of cash by way of a B share scheme and also a share capital consolidation," the company said.



Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020

This looks like the biggest opportunity in today’s markets

With low interest rates and constant money-printing, most assets have become expensive. But one major asset class hasn’t. John Stepek explains why com…
2 Jun 2020