Trilegal, Simpson Thacher & Bartlett and Shardul Amarchand Mangaldas have advised U.S. private equity fund Blackstone on its purchase of a $462 million majority stake in Indian packaging company Essel Propack (EPL), which was represented by Khaitan & Co and Baker McKenzie.
EPL is one of the world’s largest producers of laminated plastic tubes used by FMCG and pharmaceutical companies. Blackstone aims to leverage the ongoing industry shift to laminated tubes and EPL’s leadership position in oral care to accelerate growth in fast-growing categories such as beauty, cosmetics and pharmaceuticals.
According to Reuters, under India’s takeover rules, the transaction triggered a mandatory open offer in which Blackstone, along with Epsilon BidCo, offered to buy an additional 26 percent stake in Essel.
The Trilegal team was led by partners Nishant Parikh and Anirudh Agarwala, while the Simpson Thacher & Bartlett team was led by partner Ian C Ho. The SAM team was led by partners Shweta Shroff Chopra and Gauri Chhabra.
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