Vitro Sells Equity in Empresas Comegua to Owens-Illinois for $119 Million

November 16, 2018

Cleary Gottlieb advised Vitro on the sale of its 49.7 percent participation in Empresas Comegua S.A. (Empresas Comegua) to Owens-Illinois Inc. (Owens-Illinois).

Vitro will receive approximately $119 million for its equity participation in the joint venture.

Empresas Comegua is a joint venture dedicated to the sale of food and beverage glass containers in Central America and the Caribbean, with two manufacturing plants, two sand-mining operations, and more than 1,500 employees.

Vitro is the leading glass manufacturer in Mexico.

Owens-Illinois is the world’s largest glass container manufacturer.