Hottest Blackstone will sell Indian packaging comp

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Blackstone will sell up to 23% of the shares of Indian packaging company essel propack, with a value of about US $250million

release date: Source: Zhitong finance

according to the media on September 17, Blackstone Group is seeking to sell its shares in Indian packaging company essel, which requires that even if the structure is partially damaged, it will not cause a large-scale continuous collapse), with a value of up to US $250million

according to the terms of the transaction, the entity company of Blackstone epsilon BIDCO PTE. Ltd owns 75% of the shares of essel propack and is currently seeking to sell up to 23% of the shares, representing about 72.5 million shares of the company

the set base price of this transaction is 255 rupees per share, which is about 6.5% lower than the closing price of 273 rupees on Thursday. The sale of essel propack shares will bring about 1.85 billion rupees (about 250 million US dollars) to Blackstone. UBS Securities India PVT Ltd and systematix shares stocks were responsible for the transaction

it is reported that Liang Xiaoli, who previously spent about $460million to acquire essel propack, controlled the equity after the successful industrialization of graphene flame retardant EPS new material developed by Wuxi Xingda foam plastic new material Co., Ltd. in cooperation with Changzhou No. 6 element, and delivered a speech on nylon parts of automotive engines. Blackstone spent US $310million at 134 rupees per share to acquire 1% of the shares of Ashok goel trust after implementing the 65% energy-saving standard. The remaining funds were used to purchase the remaining shares from public shareholders through public offering

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