Blackstone-backed funds to buy majority stake in India's Essel Propack
22/04/2019 13:13
April 22 (Reuters) - India's packaging company Essel Propack
Ltd ESSL.NS said on Monday that private equity funds backed by
Blackstone Group BX.N agreed to buy a majority stake in the
company.
The consortium of funds will buy a 51 percent stake in Essel
from promoter Ashok Goel Trust and the deal value will range
from $310 million to $462 million based on the open offer, Essel
said.
($1 = 69.6700 Indian rupees)
(Reporting by Chandini Monnappa in Bengaluru; Editing by
Shreejay Sinha)
((chandini.m@thomsonreuters.com; +91-82-6749-7919; Reuters
Messaging: chandini.m.thomsonreuters.com@reuters.net))