Blackstone has sold 23 per cent stake in Essel Propack for a little over Rs 1,860 crore through open market transactions. Blackstone through its entity Epsilon Bidco PTE sold a total of 7,25,80,090 shares, translating into 23 per cent stake, of Essel Propack. The shares were sold on an average price of Rs 256.5, valuing the transaction at Rs 1,861.68 crore.
Essel Propack is a flagship company of the Essel group is a producer of plastic packaging material in the form of multilayer collapsible tubes and laminates used primarily for packaging of toothpaste, personal care, cosmetics, pharmaceuticals, household and industrial products.
