- O-I Glass Inc OI agreed to sell Cristar TableTop S.A.S. to Vidros Colombia S.A.S, an affiliate of Brazil-based tableware producer Nadir Figueiredo S.A.
- The company expects the sale to generate gross proceeds of $95 million and close during the first half of 2022.
- The sale of Cristar is consistent with O-I's ongoing portfolio optimization program to exit non-core operations and further advance its core business.
- Outlook: O-I Glass affirmed its previously communicated business outlook, including Q4 adjusted EPS of $0.30 - $0.35 (at October 22, 2021 currency exchange rates).
- Price Action: OI shares closed lower by 0.43% $11.54 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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