# Oricon Enterprises to sell 51% of Oricon Packaging closures unit to Pelliconi

Oricon Enterprises' board approved transferring the closures business of Oriental Containers to Oricon Packaging and selling a 51% stake in Oricon Packaging to Italy's Pelliconi at an enterprise value of Rs 419.40 crore, subject to agreed conditions. The approvals were given at a meeting on 27 October 2017.

- Type: Acquisition
- Announced: 2017-10-27
- Where: India
- Value: $64.5M (4.19B INR)
- Status: announced
- Products: closures
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Oricon Enterprises](https://endata.com/companies/2286.md)
- [Oriental Containers](https://endata.com/companies/2287.md)
- [Pelliconi](https://endata.com/companies/2288.md) (acquirer)

## Sources

- [business-standard.com](https://www.business-standard.com/article/news-cm/board-of-oricon-enterprises-approves-scheme-of-amalgamation-117102800156_1.html), 2017-10-28: "Accorded its approval, to sell 51% of the equity shares of Oricon Packaging by Oriental Containers to Pelliconi & C.S.P.A"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.