Wednesday, November 24 … [+]
Indorama Adventure– Controlled by Thai billionaire Aloke Lohia– It has agreed to buy a 24.9% stake in Indian packaging company EPL from US private equity giant Blackstone for 19 billion rupees (US$219 million), deepening its investment in India.
Bangkok-listed Indorama Ventures Int Indoramanetherlands will pay Blackstone 240 for each EPL share, with a slight premium of Rs 237.56 last Friday. The company will use its internally generated cash flow to fund the transaction, which is expected to be completed in the coming months.
“EPL is known for its innovative, high-quality packaging products worldwide and with Indorama’s philosophy of investing in attractive businesses with a huge future, as well as India, both globally and in India,” Indorama Lohia, founder and group CEO of Ventures, said. one statement.
Founded in 1982, EPL produces plastic laminates and tubes for customers in the pharmaceutical and fast-moving consumer goods industry. The company produces more than 8 billion tubes in 21 factories in 11 countries each year and employs more than 3,500 people.
Lohia's net worth is estimated at $1.4 billion. Forbes' Real-time data. The Indian-born tycoon runs the world's largest polyterephthalate or pet Indorama Ventures. His older brother, Sri Prakash Lohia (one of the wealthiest people in Indonesia) is the chairman of the company and the privately owned Indorama Corp., a manufacturer of fertilizers and aggregates that make plastics.
