Vitro Signs Settlement Agreements With All Derivative Counterparties

Date: 15 September 2010
Source: Vitro
San Pedro Garza García, Nuevo León, México, September 7, 2010 - Vitro S.A.B. de C.V. (“Vitro” or the “Company”) (BMV: VITROA) announced today that it has signed settlement agreements (the “Settlements”) with all derivative counterparties.

As previously announced, Vitro reached an agreement to settle the amount related to derivative financial instruments (“DFIs”) with Calyon, London Branch (“Calyon”). In addition, the Company reached a settlement agreement with Fintech Investments Ltd. (“Fintech”), the firm that recently acquired the DFIs claims, previously owned by Credit Suisse International, Deutsche Bank AG, London Branch, Merrill Lynch Capital Services, Citibank, N.A., Barclays Bank, PLC and Cargill, Incorporated. The amount of the settlement agreed with Calyon and Fintech is US$63.4 MM and US$176.9 MM, respectively, for a total amount of US$240.3 MM recognized by the Company. As a result of these Settlements, all of the lawsuits related with the DFIs have been dismissed. Vitro remains committed to a consensual restructuring process and is working diligently to finalize and launch its Consent Solicitation as quickly as possible.San Pedro Garza García, Nuevo León, México, September 7, 2010 - Vitro S.A.B. de C.V. (“Vitro” or the “Company”) (BMV: VITROA) announced today that it has signed settlement agreements (the “Settlements”) with all derivative counterparties.
 
As previously announced, Vitro reached an agreement to settle the amount related to derivative financial instruments (“DFIs”) with Calyon, London Branch (“Calyon”).
 
In addition, the Company reached a settlement agreement with Fintech Investments Ltd. (“Fintech”), the firm that recently acquired the DFIs claims, previously owned by Credit Suisse International, Deutsche Bank AG, London Branch, Merrill Lynch Capital Services, Citibank, N.A., Barclays Bank, PLC and Cargill, Incorporated.
 
The amount of the settlement agreed with Calyon and Fintech is US$63.4 MM and US$176.9 MM, respectively, for a total amount of US$240.3 MM recognized by the Company.
 
As a result of these Settlements, all of the lawsuits related with the DFIs have been dismissed.
 
Vitro remains committed to a consensual restructuring process and is working diligently to finalize and launch its Consent Solicitation as quickly as possible.

600450 Vitro Signs Settlement Agreements With All Derivative Counterparties glassonweb.com
Date: 15 September 2010
Source: Vitro

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