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Blackstone Group is buying a majority stake in packaging company Essel Propack Ltd for about $310 million. The New York-based PE firm has signed a definitive agreement with Essel Propack’s promoter, Ashok Goel, to buy a 51% stake at ₹134 a share, reported Mint.
Trilegal acted for Blackstone and the team was led by Partners Nishant Parikh and Anirudh Agarwala along with Senior Associates Debaditya Dutta, Aakriti Shakder and Sibani Saxena and Associates Prarthna Baranwal, Snighda Guha ROY, Vikram Lakshman, Vatsla Bharadwaj, Vaishali Movva and Nayan Jain.
Khaitan & Co acted for Ashok Goel Trust and its affiliates and the team was led by Partners Haigreve Khaitan, Aakash Chaubey and Vineet Shingal, an along with Principal Associates Kaushalya Shetty and Radhika Agarwal, Senior Associate Gautam Suseel and Associate Amulya Sharma.
Khaitan team also included – Corporate and Diligence Aspects: Sudip Mullick (Partner), Shailendra Bhandare (Partner), Shreya Dua (Senior Associate), Sneha Oak Joshi (Senior Associate), Sourav Dan (Senior Associate), Srishti Mukherjee (Associate), Julie Roy (Associate). Regulatory aspects: Sudhir Bassi (Executive Director), Arindam Ghosh (Partner), Tomu Francis (Partners), Tanish Gupta (Senior Associate). Competition Law: Anisha Chand (Partner) and Anmol Awasthi (Associate). Corp and Diligence Aspects: Rohan Srivastava (Senior Associate).
Shardul Amarchand Mangaldas advised Blackstone on competition law aspect and the team was led by Partners Shweta Shroff Chopra and Gauri Chhabra along with Senior Associate Supritha Prodaturi and Associates Kajori De and Srilatha Jayaraman.
Simpson Thacher & Bartlett also acted for Blackstone while Baker & Mckenzie acted for sellers.