The EC also confirmed that Amcor’s $2.025bn bid to acquire Alcan would still include the UK-based company’s Food Europe, Food Asia, Global Tobacco and Global Pharmaceutical packaging businesses.

In order for the acquisition to be cleared by the Commission, Amcor had to agree to sell the Tobepal plants in Spain which are part of the company’s Flexibles division and manufacture personal care, pharmaceutical and food packaging products.

The Comission’s decision, announced late Monday evening, was expected to be unveiled much earlier in the day, prompting speculation of last minute wrangling between the EC and company representatives.

The EC said “competition concerns in the European market for flexible packaging used in the pharmaceutical sector” had surfaced as a result of its initial investigation into the takeover and approval for the deal was only given on the condition Amcor sell off “the major part” of its pharmaceutical flexible packaging business.

Although earlier this year when Amcor stated flexible packaging was a growth area it was trying to concentrate on, it has played down the significance of the concession the European Commission has called on it to make.

“Receiving approval from the European Commission is an important step toward closing the Alcan Packaging acquisition,” said Amcor managing director and CEO Ken MacKenzie.

“The two plants to be divested represent less than 5 per cent of the combined sales in Europe and will not have a material affect on the synergies or operational improvements anticipated,” MacKenzie added.

While the green light from Brussels means Amcor has cleared a major hurdle in its Alcan acquisition bid, the transaction remains subject to regulatory approval in the United States and consultation with the European Works Council. The US competition authority is expected to deliver its decision by the end of the year.