Blackstone to purchase 51% stake in Essel Propack
Blackstone Group Lp, one of the world’s largest equity players, has signed a deal with Ashok Goel to purchase 51% stake in Essel Propack at Rs 134/share. Currently, Ashok Goel who own 57% stake in the company through the Ashok Goel Trust will retain a minority stake in the company once the deal is closed.
According to media reports, the estimated cost of the entire acquisition would be somewhere between the range of Rs 2000 crore to Rs 3200 core.
Essel Propack is a producer of laminated plastic tubes used by FMCG and pharmaceutical companies.