Vidros Colombia S.A.S signed an agreement to acquire Cristar TableTop S.A.S. from O-I Glass, Inc. (NYSE:OI) for $95 million on December 27, 2021. For the year ended September 30, 2021 Cristar reported EBITDA of $14.6 million. Transaction is subject to customary regulatory approvals and other closing conditions.

Transaction is expected to close during the first half of 2022. Proceeds from sale of Cristar are being redeployed to help fund up to $680 million of attractive growth opportunities by 2024, including the O-I's revolutionary MAGMA innovation, as well as to reduce debt. Team including Juan Francisco Mendez, Todd Crider, Luiz Noronha, Antonio Ribichini, Laura Ribero, Facundo Jose Nazur, William Smolinski, Benjamin Rippeon, Lori Lesser, Mike Isby, and David Caldwell of Simpson Thacher & Bartlett LLP acted as legal advisor to Nadir Figueiredo Indústria e Comércio S.A.