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Essel Propack gains 2% as Blackstone eyes majority stake in company "> ">

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  • Essel Propack gains 2% as Blackstone eyes majority stake in company
    2019-04-25, By: System Administrator

    hares ofEssel Propackadded 2.4 percent in the early trade on Tuesday after Private equity player Blackstone announced the acquisition of majority stake in company.

    Blackstone is going to buy 51 percent from promoters of Essel Propack for Rs 134 per share and to make an open offer for 26 percent stake for Rs 139.19 per share, company said inBSE filing.

    The value of the total transaction will come anywhere between Rs 2,157-3,211 crore.

    Ashok Goel Trust and its affiliates currently hold around 57 percent of company.

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