Liquidity Events
Indorama to pick up 24.9% in speciality packaging co. EPL Ltd from Blackstone for $220-M
Private equity firm Blackstone is to sell 24.9% stake in publicly listed specialty packaging company EPL Ltd (formerly Essel Propack Ltd) to Indorama Netherlands, B.V., a group entity of Indorama Ventures Public Company Ltd, for USD 220 million. Indorama will have a seat on the board of EPL Ltd.Morgan Stanley was the exclusive financial advisor to Blackstone while Trilegal and Simpson Thacher were legal advisors. Goldman Sachs was the exclusive financial advisor to Indorama and Khaitan & Co and Chandhiok & Mahajan were its legal advisors.Founded in 1982, EPL has 21 facilities across 11 countries and a workforce of more than 3,500 employees. In 2019, Blackstone had acquired 75% stake in EPL for USD 462 million from its promoter Essel Group and public shareholders.
In 2019, Blackstone has aquired 75% stake in Essel Propack for about USD 462 M
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