Rio Tinto to sell Alcan Packaging division

Rio Tinto has signed an agreement to sell its Alcan Packaging Food Americas division to Bemis Co. Inc. for US$1.2 billion, which US$ 200 million may be in the form of shares in Bemis Co. Inc. Completion of the transaction remains subject to customary closing conditions, including regulatory approvals. During 2009, the group announced a total of US$3.7billion of divestments. Those already announced are its interest in the Ningxia aluminum smelter in China for US$125 million, its potash assets and Brazilian iron ore operations for US$1.6 billion and its Jacobs Ranch coal mine in the U.S. for US$761 million. The divestment program continues for other assets identified for sale, including the remainder of Alcan Packaging and Alcan Engineered Products.Air Jordan VII 7 Shoes