Jefferies Comments on Owens-Illinois Acquisition of Minority Interest in Brazilian Ops

Jefferies is providing a few comments on Owens-Illinois, Inc. (NYSE: OI), which just acquired a minority interest in Brazilian Ops.

“With Brazil being one of the most profitable and fastest growing markets in glass, we believe it makes strategic sense that OI is acquiring the minority interest in its legacy Brazilian operations,” Jefferies writes. “With both the acquisition and recent debt refi accretive to earnings, we believe Consensus estimates are biased to the upside.”

Owens-Illinois closed Tuesday at $32.12.