+
Indorama Ventures to Acquire 25% EPL Stake from Blackstone
Real Estate

Indorama Ventures to Acquire 25% EPL Stake from Blackstone

Chemical producer Indorama Ventures is acquiring a 24.9 percent minority stake in speciality packaging company EPL Ltd from American private equity firm Blackstone for Rs 19.10 billion. The transaction is valued at Rs 240 per share and is expected to be completed in the coming months, pending regulatory approvals.

Since the acquired stake remains below 25 per cent, no open offer is required. Blackstone’s private equity funds had taken control of EPL, formerly known as Essel Propack, in 2019 and continue to hold a significant share in the company. The transaction will enable Indorama Netherlands BV, a subsidiary of Indorama Ventures, to establish a presence in EPL, the world's largest manufacturer of laminated tubes.

EPL operates 21 production facilities across 11 countries, supplying global brands in the oral care, cosmetics, and pharmaceutical industries. The company reported revenue of Rs 41.37 billion for the 12 months ending December 31, 2024, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 8.06 billion, reflecting a 17 per cent year-on-year increase. It has focused on expanding in emerging markets and strengthening its presence in high-growth segments such as beauty and pharmaceuticals.

Following the transaction, Indorama Ventures will gain the right to nominate a director to EPL’s board. Financial advisory for the deal was provided by Morgan Stanley for Blackstone and Goldman Sachs for Indorama Ventures. Legal counsel was handled by Trilegal and Simpson Thacher for Blackstone, while Khaitan & Co and Chandhiok & Mahajan advised Indorama Ventures.

News source: Business Standard

Image Source: Money Control

Chemical producer Indorama Ventures is acquiring a 24.9 percent minority stake in speciality packaging company EPL Ltd from American private equity firm Blackstone for Rs 19.10 billion. The transaction is valued at Rs 240 per share and is expected to be completed in the coming months, pending regulatory approvals. Since the acquired stake remains below 25 per cent, no open offer is required. Blackstone’s private equity funds had taken control of EPL, formerly known as Essel Propack, in 2019 and continue to hold a significant share in the company. The transaction will enable Indorama Netherlands BV, a subsidiary of Indorama Ventures, to establish a presence in EPL, the world's largest manufacturer of laminated tubes. EPL operates 21 production facilities across 11 countries, supplying global brands in the oral care, cosmetics, and pharmaceutical industries. The company reported revenue of Rs 41.37 billion for the 12 months ending December 31, 2024, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 8.06 billion, reflecting a 17 per cent year-on-year increase. It has focused on expanding in emerging markets and strengthening its presence in high-growth segments such as beauty and pharmaceuticals. Following the transaction, Indorama Ventures will gain the right to nominate a director to EPL’s board. Financial advisory for the deal was provided by Morgan Stanley for Blackstone and Goldman Sachs for Indorama Ventures. Legal counsel was handled by Trilegal and Simpson Thacher for Blackstone, while Khaitan & Co and Chandhiok & Mahajan advised Indorama Ventures. News source: Business StandardImage Source: Money Control

Next Story
Infrastructure Transport

Syama Prasad Mookerjee Port Partners to Redevelop Nimtala Ghat

Kolkata: Syama Prasad Mookerjee Port, Kolkata (SMPK), signed a Memorandum of Understanding (MoU) on Tuesday with PS Group Realty Private Limited to redevelop and beautify Nimtala Ghat as part of PS Group’s Corporate Social Responsibility (CSR) initiative.The agreement was formalised at SMPK’s Head Office at 15, Strand Road, in the presence of SMPK chairman Rathendra Raman, deputy chairman Samrat Rahi, PS Group directors Saurav Dugar, Gaurav Dugar, Arun Sancheti, and senior SMPK officials.Under the MoU, PS Group will undertake the full redevelopment and permitted construction of Nimtala Imm..

Next Story
Infrastructure Urban

CSIR-NCL and Covestro Collaborate to Upcycle Polyurethane Waste

In a move towards sustainable plastic waste management, Pune-based CSIR-National Chemical Laboratory (CSIR-NCL) signed a Memorandum of Understanding (MoU) with Covestro (India) Private Limited on Wednesday to develop innovative upcycling technologies for polyurethane waste.Polyurethane is notoriously difficult to recycle, with current methods often proving inefficient, costly, and environmentally harmful. This collaboration aims to address existing challenges, including high energy usage and deterioration of material quality during recycling.Ashish Lele, director of CSIR-NCL, stated, “This p..

Next Story
Infrastructure Urban

Torrent Pharma Seeks CCI Approval for Rs 195 Billion JB Chemicals Deal

Ahmedabad-based Torrent Pharmaceuticals has sought clearance from the Competition Commission of India (CCI) to acquire a majority stake in J B Chemicals and Pharmaceuticals in a Rs 195 billion deal.Upon completion, Torrent Pharmaceuticals will become India’s second most valuable pharmaceutical company.The move follows Torrent’s June announcement to acquire a majority stake in J B Chemicals for Rs 195 billion.“The proposed combination pertains to the acquisition of shareholding by Torrent Pharmaceuticals Ltd in J B Chemicals & Pharmaceuticals Ltd, followed by the merger of the target ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?