Blackstone to promote controlling stake in packaging agency EPL, Morgan Stanley appointed advisor for the deal – INA NEWS

Personal fairness agency Blackstone has appointed prime funding financial institution Morgan Stanley as advisor to promote its controlling stake in world specialty packaging firm EPL Ltd. Sources aware of the matter have given this info to Moneycontrol on the situation of anonymity.

Moneycontrol had first reported on October 30, 204 that the American funding firm is making ready to promote stake in EPAL Restricted. “Morgan Stanley has not too long ago been appointed as advisor to the sale,” a supply mentioned. The sale course of has not began but. Nevertheless, the corporate goals to discover a appropriate purchaser by March 2025. The target is to promote the whole stake and Blackstone is anticipating a big premium when it comes to valuation.

Promoter Blackstone holds 51.47% stake in EPL Ltd. In keeping with the closing worth of January 2, the market cap of the corporate is roughly Rs 8,361 crore. At this stage, the valuation of Blackstone’s controlling stake is Rs 4,303 crore. Final 12 months, the worth of EPL shares elevated by about 32 %.

One other supply mentioned, ‘Blackstone had invested in 2019, so it’s a mature portfolio agency. Each non-public fairness gamers and strategic entities have proven curiosity on this transaction. Blackstone had bought 23% stake in Essel Propack (EPL Ltd) for Rs 1,850 crore by way of a block deal in September 2020. An e-mail despatched by Moneycontrol to Blackstone on this regard didn’t elicit any response.