BUZZ-RPC: Snaps up peer in $483 mln deal, revenue beats

** RPC Group Plc (LSE: RPC.L - news) 's shares up almost 7 pct, after British plastic packaging supplier says it will buy Iceland-based peer Promens Group AS for 386 mln euros ($483 mln), marking its largest European acquisition to date.

** Stock is among top percentage gainers on FTSE-250 Midcap Index, having touched a high of 585p, but still shy of the mean analyst PT of 710.80p, Reuters data shows.

** The company says will fund deal by raising about 200 mln pounds ($316 mln) through a fully underwritten 1-for-3 rights issue and increasing revolving credit facility by 140 mln pounds.

** Deal, intended to help RPC (NYSE: RES - news) boost its exposure in Europe and help satisfy its increasing need for polymer, adds 40 plants to its portfolio and yearly pretax cost synergies of at least 15 mln euros.

** RPC, whose business includes making packaging for Nivea creams and Nescafe coffee capsules, also posts better-than-expected H1 revenue from continuing operations of 588.9 mln pounds.

** Deutsche Bank (Xetra: 514000 - news) analyst Debbie Jones boosts her second-half EPS forecast to 50 pence from 48.3 pence. She adds the forecast excludes the pending Promens deal. (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)