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Germany's Gerresheimer loses interest in Rexam unit - paper

Reuters - UK Focus

FRANKFURT, Dec 4 (Reuters) - Germany's Gerresheimer AG (Other OTC: GRRMF - news) has lost interest in the healthcare packaging unit of Rexam Plc (LSE: REX.L - news) , its chief executive was quoted telling a German newspaper on Wednesday.

Sources had said last month the German company, which makes pill bottles and syringes, was competing with U.S. packaging companies Berry Plastics Group Inc and Silgan Holding Inc to buy the healthcare packaging unit of Rexam in a deal expected to fetch a little less than $1 billion.

Private equity firms including Bain Capital LLC and KKR (Frankfurt: A1C10P - news) & Co LP also put in offers, the sources said.

"Bottom line is that the Rexam unit did not fulfil our acquisition criteria," Gerresheimer Chief Executive Uwe Roehrhoff was quoted as saying in Handelsblatt.

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No-one at Gerresheimer could immediately be reached for comment.

Rexam said in June it would sell its healthcare business, which makes medical packaging and drug delivery devices such as bronchial inhalers and injection syringes and accounts for about 10 percent of group sales.