Global packaging specialist Rexam (London / UK; www.rexam.com) has completed the sale of its cosmetics, toiletries and household care products business to an affiliate of Sun European Partners (London / UK; www.suneuropeanpartners.com) – European adviser to private equity firm Sun Capital Partners (Boca Raton, Florida / USA; www.suncappart.com) – for USD 459m in cash. The finalisation of the deal was made possible following receipt of approval from the Chinese authorities, with authorisation from the US, Europe and Brazil already in place – see Plasteurope.com of 22.11.2012.

The deal, together with the sale of the company’s high barrier food business (see Plasteurope.com of 04.09.2012), finalises the sale of the company’s personal care business for a total of USD 709m (EUR 538m). Rexam intends to return around GBP 370m (EUR 456m) to shareholders following completion of the disposal of the personal care business and said it anticipates informing investors regarding proposals on or about 8 January 2013. The communication will also include a notice of a general meeting, the company said.