Ball set to win EU approval for $6.7 bln Rexam deal- sources

* Ball initially offered to sell 11 European plants

* Company has fine-tined package of concessions

* World's two largest beverage can makers to merge (Adds Ball comments, Ball share price, updates Rexam (LSE: REX.L - news) share price)

By Foo Yun Chee

BRUSSELS, Dec 10 (Reuters) - U.S (Other OTC: UBGXF - news) . drinks can maker Ball Corp (NYSE: BLL - news) is set to win EU approval for its 4.43-billion-pound ($6.7 billion) bid for Rexam Plc with an improved package of concessions, two people familiar with the matter said, boosting the UK firm's shares.

The world's two largest beverage can makers by volume are seeking to merge to improve management of capital spending and costs. But the deal triggered concerns in the European Commission that it would drive up prices for companies and consumers.

Last month, Ball offered to sell 11 plants across Europe, nine of which make cans and two produce can ends. Rivals and customers wanted a better mix, with more factories making aluminium cans rather than steel which is an old technology.

Ball subsequently fine-tuned the package, the sources said on Thursday, declining to provide details.

Rexam's shares rose as much as 2.6 percent to 597 pence after the Reuters story, outperforming the FTSE 250 midcap index which was 0.2 percent lower by 1600 GMT. Ball was 3.2 percent up at $71.

Commission spokesman Ricardo Cardoso declined to comment. A Rexam spokesman could not be immediately reached for comment.

Ball spokeswoman Renee Robinson said: "Our regulatory discussions continue, but due to their sensitive nature, we cannot provide additional information at this time. The overall transaction closing timeline remains the first half of 2016."

The Commission is scheduled to decide on the deal by Jan. 22 but may push out a decision a week earlier.

The first package of concessions involve four factories in Germany, three in the UK, one each in Spain, France, the Netherlands and Austria.

The companies have hired investment bank Goldman Sachs Group (Swiss: GS.SW - news) Inc (LSE: 0M50.L - news) to find buyers for the assets, which could have as much as $200 million in annual earnings before interest, tax, depreciation and amortisation, according to other sources.

The can makers' customers include Coca-Cola Co and Anheuser-Busch InBev.

($1 = 0.6591 pounds) (Reporting by Foo Yun Chee; editing by Keith Weir and Jane Merriman)