Oricon Enterprises has signed and executed the definitive Business Transfer Agreement and Sale & Purchase Agreements with Pelliconi & C.S.P.A. on November 03, 2017.
By virtue of this, Oriental Containers (OCL) will sell 51% equity shares of Oricon Packaging (OPL) to Pelliconi & C.S.P.A. and receive consideration in cash at an enterprise value of Rs 419.40 crore, subject to necessary adjustments in terms of the agreement.
Oricon Enterprises is engaged in the business of manufacturing petrochemical products and developing real estate.