PPG To Divest Minority Interest In Automotive Glass Business

(RTTNews) - PPG Industries Inc. (PPG) announced, in connection with LKQ Corporation's announcement of its definitive agreement to purchase Pittsburgh Glass Works, that it will divest its approximately 40 percent minority ownership interest in PGW.

LKQ announced that it expects the transaction to close in the second quarter 2016, subject to customary closing conditions.

PPG has held a minority interest in PGW since 2008, when it completed the sale of its automotive glass and services business to PGW, which was controlled by Mount Kisco, N.Y.-based Kohlberg & Company, LLC.