Container glassmaker O-I has sold its 25% share in Tata Chemicals (Soda Ash) Partners Holdings, a soda ash producer.
It has sold the partnership interest to Valley Holdings, a subsidiary of Tata Chemicals Limited, for $195 million.
The proceeds from the sale will be used to repay debt prior before the end of the year.
O-I said the sale is one component of its divestiture programme, which aims to raise between $400 and $500 million. It said further sales are expected in 2020.