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Crown wholly own its joint venture facilities in China, Vietnam

US-based Crown Holdings has completed its previously announced acquisition, from affiliates of Swire Pacific, their interests in the holding companies for Crown's Chinese and Vietnamese joint ventures.

The interests were acquired for an aggregate purchase price of $150m and the holding companies have now become wholly-owned subsidiaries of Crown.

Earlier this month on 7 September 2010, Crown has signed agreements to acquire, from affiliates of Swire Pacific, their 44.57% interest in the holding company for Crown’s four joint venture facilities in China and their 49% interest in the holding company for Crown’s joint venture facility in Hanoi, Vietnam.

Crown, through its subsidiaries, is a supplier of packaging products to consumer marketing companies around the world.