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.