# Blackstone to acquire 51% stake in Essel Propack

Blackstone agreed to buy a 51% stake in Essel Propack, an Indian laminated tubes and specialty packaging maker, from Ashok Goel Trust for up to $460 million, with a mandatory open offer for a further 26%.

- Type: Acquisition
- Announced: 2019-04-22
- Where: India
- Value: $460.0M
- Status: announced
- Capacity: 7 billion tubes annually
- Products: laminated tubes
- Sectors: [Packaging](https://endata.com/sectors/packaging.md)

## Companies

- [Blackstone Group](https://endata.com/companies/2364.md) (acquirer)
- [Essel Propack](https://endata.com/companies/3927.md) (target)
- [Ashok Goel Trust](https://endata.com/companies/4926.md) (partner)
- [Ashok Goel](https://endata.com/companies/4927.md) (partner)

## Sources

- [thehindubusinessline.com](https://www.thehindubusinessline.com/companies/lifeline-blackstone-to-pick-51-stake-in-essel-propack/article26914128.ece), 2019-04-22: "Blackstone, through PE funds managed by it, will acquire a 51 per cent stake from Ashok Goel Trust at ₹134 per share"
- [timesofindia.indiatimes.com](https://timesofindia.indiatimes.com/business/india-business/blackstone-to-buy-essel-propack/articleshow/68998731.cms), 2019-04-22: "The deal will see Blackstone acquire 51% from Essel Propack chairman & MD Ashok Goel"

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