Essel Propack Limited, The Blackstone Group L.P. - M&A Call Transcript
Good evening, everybody, for joining the call on such a short notice. My name is Amit Dixit, and I'm with Blackstone. And I'm here with Ashok Goel, Chairman and Managing Director of Essel Propack. On this call, I will introduce the transaction, and then I'll pass it on to Ashok. And then after that, we can have some Q&A.
So as you may have seen in the press release, Blackstone is committing up to $460 million to acquire a majority stake in Essel Propack. This is a publicly-listed company, which is owned 57% by the Ashok Goel Trust. So we are acquiring 51% at INR 134 per share. Ashok will be retaining the 6% stake, and then we'll be making a mandatory open offer at INR 139.20 or INR 139.19 is the exact amount at which we are making the mandatory open offer. So overall, the transaction amount comes to about 3,211 crores or about $462 million.
In terms of why are we doing -- why is Blackstone doing this transaction, I think I have 5 key messages. Number one, Essel Propack is a global leader in flexible tube
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
