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Subsequent Event | 9 Months Ended
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Sep. 30, 2021
Subsequent Event |
Subsequent Event | 19. Subsequent Event ​ On October 25, 2021, the Company announced that it had entered into a binding commitment to sell its Le Parfait brand and business to a subsidiary of Berlin Packaging L.L.C., a global packaging supplier. Le Parfait is a French jar brand sold in more than 20 countries. The proposed sale is expected to generate gross proceeds of approximately €72 million, which will be redeployed to help fund expansion initiatives, such as the Company’s MAGMA innovation. O-I expects to close around year end 2021, subject to the works council consultation and other customary closing conditions. The proposed transaction between O-I and Berlin Packaging L.L.C. also includes a long-term supply arrangement to manufacture Le Parfait jars from O-I plants in France and Spain. ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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