Indorama Ventures to Acquire 25% EPL Stake from Blackstone

27 Feb 2025 CW Team

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

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..