04.23.19
Blackstone Group LP has announced an agreement to buy a controlling stake in India-based Essel Propack Ltd.
The world’s largest alternative asset manager will acquire 51% of Essel Propack for $310 million from one of the founders, Ashok Goel Trust, Essel Propack. The move will trigger an open offer to buy an additional 26% of the shares, according to a statement.
Essel Group owns a wide range of businesses including packaging materials, and is selling assets to repay debt.
The world’s largest alternative asset manager will acquire 51% of Essel Propack for $310 million from one of the founders, Ashok Goel Trust, Essel Propack. The move will trigger an open offer to buy an additional 26% of the shares, according to a statement.
Essel Group owns a wide range of businesses including packaging materials, and is selling assets to repay debt.
