Blackstone(New York,New York/USA;www.blackstone.com)has reached an agreement with Ashok Goel Trust to buy a 51 % share of laminate tubes manufacturer Essel Pro-pack(Mumbai,Maharashtra/India;www.esselpropack.com),with the purchase price consideration between USD 310m to USD 462m.The transaction is expected to complete in the coming months,subject to closing conditions and approvals.As a requirement of the takeover code in India,Blackstone will make a public announcement to the stock exchanges for an open offer to purchase an additional 26% shares.Essel founder and long-time managing director Ashok Goel will be retaining a minority stake.
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