Vitro S.A.B. de C.V. (BMV:VITRO A) signed a definitive agreement to acquire Pittsburgh Glass Works LLC from LKQ Corporation (NasdaqGS:LKQ) for $310 million on December 18, 2016. The acquisition will be funded with $80 million cash and a $230 million loan from BBVA Bancomer which was simultaneously signed with this agreement. Prior to closing, LKQ Corporation will spin off and retain the aftermarket glass distribution business, which will not be part of the transaction. As part of this transaction, Vitro and LKQ agreed to enter into a multi-year purchase agreement whereby Vitro will supply LKQ's aftermarket glass distribution business with an already agreed-upon volume. The transaction is subject to customary closing conditions and necessary regulatory approvals. The transaction is expected to be completed in the first quarter of 2017. Cleary Gottlieb Steen & Hamilton acted as the legal advisor for Vitro.

Vitro, S.A.B. de C.V. (BMV:VITRO A) completed the acquisition of Pittsburgh Glass Works LLC from LKQ Corporation (NasdaqGS:LKQ) on March 1, 2017.