Blackstone’s $251 Million Sale of Essel Propack


Khaitan & Co advised UBS Securities India Private Limited in the deal.

Blackstone completed the sale of a large chunk of its shareholding in packaging firm Essel Propack Ltd through block trades, which could fetch the investor as much as $251 million.

Epsilon Bidco Pte. Ltd, a Blackstone entity which owns 75% of Essel Propack, is looking to sell up to 23% stake representing around 72.5 million shares of the company, according to deal terms seen by Mint.

Essel Propack Limited operates as a specialty packaging company and offers products such as laminated tubes, plastic tubes, and caps and closures.

The Khaitan & Co team was led by Partner Subhayu Sen (Picture) and Chirayu Chandani (Counsel).

Involved fees earner: Chirayu Chandani – Khaitan & Co.; Subhayu Sen – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: UBS Securities India Private Limited;

Author: Michael Patrini