Private equity major Blackstone has signed a deal to acquire Piramal Group’s Piramal Glass for around $1 billion (Rs 7,357 crore).

Cyril Amarchand Mangaldas acted for Blackstone and the team was led by Partner Shishir Vayttaden.

Trilegal advised Piramal Glass.

The deal contour includes an upfront payment of $850 million while Piramal Group will get approximately $150 million on achieving certain milestones, to be paid over 2 years, reported CNBC.