Khaitan, C&M, Trilegal, Simpson Thacher act on Blackstone-backed EPL - Indovida Packaging merger

Blackstone-backed EPL Limited and Indorama Ventures' Indovida India Private Limited have signed definitive agreements for a merger to form a packaging platform valued at $2 billion.

Khaitan & Co advised Indorama Ventures and Indovida Packaging on this merger. The Firm advised on structuring the overall transaction and drafting and negotiating the definitive agreements.

The transaction team consisted of Haigreve Khaitan (Senior Partner), Surbhi Kejriwal (Partner), Mehul Shah (Partner), Jamsheed Dadachanji (Principal Associate), Vedika Bhandari (Principal Associate), Associates Kashvi Shetty and Ravi Shankar, with assistance from the following:

Diligence: Shailendra Bhandare (Partner), Gaurav Dasgupta (Partner), Deepak Kumar (Partner), Mudit Shah (Partner), Amruta Joshi (Counsel), Sourav Dan (Counsel), Sumantra Bose (Counsel), Shivam Tandon (Counsel), Siddharth Godha (Principal Associate), Rupali Singh (Principal Associate), Archika Dudhwewala (Principal Associate), Nikunj Keyal (Senior Associate), Ketan Ravindra Jikar (Senior Associate), Shrey Himanshu Bheda (Senior Associate), Shramana Dwibedi (Senior Associate), Nikunj Jhunjhunwala (Senior Associate), Sanket Pargaien (Senior Associate), Diwankar Sethi (Senior Associate), Associates Vaishali Adhikari, Vidhi Mahesh Patel, Kalapi Sanjay Ruikar, Disha Basnet, Jwaalaa Suresh and  Shiva Patil;

Securities law related aspects: Abhishek Dadoo (Partner), Anvita Mishra (Counsel), Associates Krithika Kataria and Anjana Raghunath.

Chandhiok & Mahajan is also advising Indorama Ventures on this transaction. The Firm provided comprehensive legal support across corporate, competition and regulatory workstreams on this complex, multijurisdictional transaction.

The firm’s Competition and Regulatory Practice is leading the global approval strategy, including antitrust clearance from the Competition Commission of India and across more than 10 jurisdictions as well as foreign investment approvals. The team is led by Karan Singh Chandhiok (Partner and Head of Competition and Regulatory), alongside Deeksha Manchanda (Partner) and Modhulika Bose (Partner), with support from Aakash Kumbhat (Managing Associate), Nicky Collins (Managing Associate), Riddhika Dumane (Senior Associate), Aileen Aditi Sundardas (Senior Associate) and Saumya Sunidhi (Associate).

The Corporate Team led by Sujoy Bhatia (Managing Partner), with support from Shivani Pathak (Managing Associate), Kamran (Associate – CS) and Pranshi Gaur (Associate), is advising on FDI and general corporate matters.

Indorama Ventures had acquired stake in EPL from Blackstone in 2025.

Trilegal advised Blackstone and EPL on this merger.

The transaction team was led by Nishant Parikh (Partner), Arjun Ghose (Partner), Ankit Kejriwal (Partner), and Prarthna Baranwal (Partner), with support from Ishika Goon (Counsel), Radhika Bihani (Senior Associate), Mohammed Khalfan (Senior Associate), Suyash Bhamore (Senior Associate), and Associates S Sivakumar, Praduta Singh, Shloka Prashanth Rao, J S Kaushalya, Abhinav Nair, Dhanush T, and Aakanksha Ranjan.

Gauri Chhabra (Partner), with support from Gargi Yadav (Counsel), Eesha Sheth (Senior Associate), and Associates Bhabya Mahapatra, Shobhit Shukla, Anjana Ravikumar, and Shreya Chaudhary, advised on Competition law aspects.

Mridul Kumbalath (Partner) and Ganashruthi MU (Counsel) advised on Real Estate law aspects.

Simpson Thacher & Bartlett LLP is advising Blackstone on global antitrust and foreign investment issues.

Indovida produces PET preforms, bottles, and HDPE and PP closures that enable safe, efficient, and durable packaging for food and beverages as well as other consumer products.

EPL specializes in manufacturing laminated plastic tubes and serves major industries such as beauty and personal care, pharmaceuticals, and packaged food.

The merger will establish one of the biggest packaging platforms in the market by integrating complementary services and strengths.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.