CHICAGO — American National Can Co.'s beverage can division may be listed on the New York Stock Exchange by the end of the year.
Paris-based Pechiney International SA announced March 10 that it plans to float a majority stake in the business to raise money for other areas, including plastic and aluminum packaging.
Pechiney's board has approved in principle an initial public offering, which represents about $2.4 billion of Pechiney's net sales.
Pechiney Chairman Jean-Pierre Rodier said the company eventually hopes to sell the beverage can business altogether.
American National Can, based in Chicago, also makes plastic film and blow molded bottles.