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Blackstone trims stake in EPL for $220 mn as Indorama gets on board

VCCircle · 3m

Blackstone is selling a 24.9% stake in EPL Ltd, an Indian packaging company, to Indorama Ventures' unit for around $220 million. This reduces Blackstone's stake from 51.45% to 26.55%. Indorama Netherlands can appoint a director to EPL's board. EPL, with 21 facilities globally, serves major brands in oral care, beauty, and pharmaceuticals. Blackstone initially acquired a 75% stake in EPL in 2019. Indorama Ventures is a leading global chemicals producer.