Vitro, S.A.B. de C.V.’s $310 Million Acquisition of OEM Glass Manufacturing Business


Cleary Gottlieb Steen & Hamilton LLP and K&L Gates have advised on the transaction

LKQ Corporation (Nasdaq:LKQ) has entered into a definitive agreement to sell the OEM glass manufacturing business of its Pittsburgh Glass Works subsidiary (“PGW”) to a subsidiary of Vitro S.A.B. de C.V. (BMV:VITROA), a leading glass manufacturer based in Mexico. The sale price is $310 million, subject to potential post-closing purchase price adjustments.

As part of the transaction, LKQ and Vitro entered into a multi-year supply agreement pursuant to which LKQ’s ongoing aftermarket glass distribution business will purchase a specified amount of its automotive glass from Vitro at specified prices.

The transaction is expected to be completed in the first quarter of 2017 and is subject to customary closing conditions and necessary regulatory approvals.

Cleary Gottlieb Steen & Hamilton LLP has advised Vitro, S.A.B. de C.V. with Chantal Kordula (Picture), Michael Albano, Len Jacoby, William McRae, Brian Byrne, Steve Horowitz, Rick Bidstrup, James Corsiglia, Manuel Silva, Domonique Worship, Jessica Rofé, Bobby Underwood, Jane Rosen, Katie Dunn, David Stuckey, Beau Sterling, Ryan Davis, Aaron Ross, Patrick Marette, Sami Aboulhosn, Alexander Eaton and Lourdes Elizondo.

K&L Gates LLP has advised LKQ Corporation with Craig Walker, Brent Williams and Merrick Hatcher.

Involved fees earner: Craig Walker – K&L Gates; Brent Williams – K&L Gates; Merrick Hatcher – K&L Gates; Chantal Kordula – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton; Domonique Worship – Cleary Gottlieb Steen & Hamilton; Michael Albano – Cleary Gottlieb Steen & Hamilton; Bobby Underwood – Cleary Gottlieb Steen & Hamilton; Leonard Jacoby – Cleary Gottlieb Steen & Hamilton; Jane Rosen – Cleary Gottlieb Steen & Hamilton; Katie Dunn – Cleary Gottlieb Steen & Hamilton; William McRae – Cleary Gottlieb Steen & Hamilton; David Stuckey – Cleary Gottlieb Steen & Hamilton; Brian Byrne – Cleary Gottlieb Steen & Hamilton; Ryan Mark Davis – Cleary Gottlieb Steen & Hamilton; Aaron Ross – Cleary Gottlieb Steen & Hamilton; Steven Horowitz – Cleary Gottlieb Steen & Hamilton; Patrick Marette – Cleary Gottlieb Steen & Hamilton; Richard Bidstrup – Cleary Gottlieb Steen & Hamilton; Beau Sterling – Cleary Gottlieb Steen & Hamilton; James Corsiglia – Cleary Gottlieb Steen & Hamilton;

Law Firms: K&L Gates; Cleary Gottlieb Steen & Hamilton;

Clients: LKQ Corporation; Vitro, S.A.B. de C.V.;

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Author: Ambrogio Visconti