Rio Tinto Ltd. (RIO.AU) said Monday it has completed the divestment of the last of its Alcan packaging businesses, bringing the miner's total divestments since 2008 to more than US$10 billion.

The Alcan medical flexibles business has been sold to Amcor Ltd. (AMC.AU) for US$66 million while the beauty packaging business has been sold to Sun European Partners for an undisclosed sum.

Rio sold the bulk of the Alcan packaging assets to Amcor for US$1.95 billion in a transaction completed earlier this year as part of a program of divestments aimed at repairing its balance sheet in the wake of its top-of-the-cycle takeover of Alcan for US$38.1 billion in 2007.

- By Alex Wilson, Dow Jones Newswires: 613-9292-2094; alex.wilson@dowjones.com
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