Key Developments: Vitro SAB de CV (VITROA.MX)

VITROA.MX on Mexico Stock Exchange

3 Jul 2015
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Latest Key Developments (Source: Significant Developments)

Vitro SAB de CV executives increase stake in company
Thursday, 14 May 2015 05:47pm EDT 

Vitro SAB de CV:Adrian Sada Gonzalez and Adrian Sada Cueva agreed to purchase from David Martinez Guzman 23.3 million shares of Vitro each, which amounts to 4.82 percent of the share capital each.Acquisition will be carried out indirectly through companies wholly owned by both Adrian Sada Gonzalez and Adrian Sada Cueva.  Full Article

Owens-Illinois to acquire Vitro S.A.B. de C.V's food and beverage business for $2.15 bln
Wednesday, 13 May 2015 06:31am EDT 

Owens-Illinois Inc:Reaches definitive agreement with Vitro, S.A.B. de C.V., to acquire Vitro's food and beverage glass container business in an all-cash transaction valued at about $2.15 bln.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. The deal is expected to close within 12 months.  Full Article

Vitro to build new packaging plant in Brazil
Thursday, 14 Aug 2014 03:52pm EDT 

Vitro SAB de CV:To build new packaging plant to manufacture glass containers for cosmetics, fragrances and specialties segments in Brazil.Investment value about $90 million.  Full Article

Vitro signs new contract with Constellation Brands
Thursday, 14 Aug 2014 03:47pm EDT 

Vitro SAB de CV:Signs new 7-year contract with Constellation Brands for production of 7,300 million beer bottles for export.Estimated sales value of transaction is $950 million during contract period.  Full Article

Vitro and Credit Agricole Corporate and Investment Bank reach agreement to end all litigation
Wednesday, 28 May 2014 08:00pm EDT 

Vitro SAB de CV:Vitro and Credit Agricole Corporate and Investment Bank have settled series of lawsuits pending in Mexico and United States, including one that involved Fintech group and certain of its affiliates.Settlement of these lawsuits closes the final chapter on Vitro restructuring process.Terms of settlement provide for Vitro to issue in favor of Credit Agricole $58.5 million note due 2016, which will bear interest at rate equal to three-month LIBOR plus 4.25 percent per annum.Vitro to make up-front payment of $15.0 million to Credit Agricole upon execution of definitive documentation in respect of settlement.  Full Article

Texas Court concludes insolvency proceedings of Vitro’s subsidiaries in US
Friday, 21 Feb 2014 03:39pm EST 

Vitro SAB de CV:Says the Bankruptcy Court for the Northern District of Texas entered the order to formally conclude the insolvency proceedings of its subsidiaries in the United States, which underwent Chapter 11 proceedings in that country.With this action, the companies Vitro Asset Corp, Vitro Chemicals, Fibers & Mining, Troper Services, Amsilco Holdings, B.B.O. Holdings, Binswanger Glass Company, Crisa Corporation, V-MX Holdings, and Vitro Packaging conclude the insolvency process started on Nov. 17, 2010.  Full Article

Vitro SAB de CV completes company merger
Thursday, 2 Jan 2014 12:04am EST 

Vitro SAB de CV:Says on Jan. 1 at 12:00 p.m. the simultaneous merger of FIC Regiomontano SAPI de CV (FIC) and Compania Vidriera SA de CV(COVISA) into Vitro had full effect.Says the forgoing in fulfillment of the agreements adopted by the General Extraordinary Shareholders’ Meetings held on Sep. 5, 2013 and on Dec. 11, 2013.Says as a result of the merger, Vitro’s corporate capital increased 20 pct, same which became property of Fintech Advisory Ltd. (Fintech) to fulfill the agreements reached on Mar. 1, 2013 with such financial partner.  Full Article

Vitro SAB de CV confirms merger agreement with its subsidiaries
Wednesday, 11 Dec 2013 12:22pm EST 

Vitro SAB de CV:Says on Dec. 11 the General Extraordinary Shareholders' Meeting was held, where it was approved to sign on Jan. 1, 2014 at 12:00 p.m. a merger agreement between the company and its subsidiaries: FIC Regiomontano SAPI de CV and Compania Vidriera SA de CV.Says the merger will allow Vitro to fulfill one of the commitments agreed with the creditor Fintech Advisory Ltd., under which the Company will strengthen its financial position.  Full Article

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