INSUBCONTINENT EXCLUSIVE:
The total deal value will range from $310 million to $462 million, based on the open offer.US-based Blackstone Group agreed to buy a 51 per
cent stake in Essel Propack Ltd, India's largest rigid plastic packaging provider said on Monday.Blackstone will buy the stake from the
Ashok Goel Trust at Rs 134 per share, representing a premium of 1.1 per cent over the company's Monday closing price.Under takeover rules,
the transaction triggered a mandatory open offer in which Blackstone, along with Epsilon BidCo Pte Ltd, offered to buy an additional 26 per
cent stake in Essel for Rs 1,142 crore ($163.92 million).The total deal value will range from $310 million to $462 million, based on the
The Trust will retain a 6 per cent stake in the company, Essel Propack said.($1 = Rs 69.67)Get the latest election news, live updates and
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