Simpson Thacher is representing Owens-Illinois, Inc. (NYSE: OI) in connection with its definitive agreement to acquire the food and beverage glass container business of Vitro, S.A.B. de C.V. (BMV: VITROA) in an all-cash transaction valued at approximately $2.15 billion. The agreement includes Vitro's five plants in Mexico and one in Bolivia. The transaction, which has been approved by the boards of directors of both companies, is subject to approval by Vitro’s shareholders and customary regulatory approvals, and is expected to close within 12 months.
Owens-Illinois is the world's largest glass container manufacturer and preferred partner for many of the world's leading food and beverage brands. Vitro is the largest supplier of glass containers in Mexico.
The Simpson Thacher team included Alan Klein, Patrick Naughton, Stephen Wiseman, Erik Wang and Michael Chao (M&A); Peter Guryan and Ellen Frye (Competition); David Rubinsky, Aimee Adler and Holly Gurian (ECEB); Sophie Staples (Tax); Adeeb Fadil and Louise Kruger (Environmental); Marcela Robledo (Intellectual Property); and Krista McManus (Real Estate). International associates Diego Kexel, Eugenio Guzman, Sebastian Lora and Julian Lujan also provided valuable assistance.