Bengaluru, Feb. 24 -- Indorama Ventures Europe (IVE) will acquire a minority stake of about 24.9% in EPL Limited, a global specialty packaging company and manufacturer of laminated tubes, from private equity firm Blackstone for $200 million.

The sale, which is expected to be completed in the coming months, is pegged at Rs.240 a share and is subject to customary closing conditions and approvals. Once the transaction is completed, Indorama will be entitled to appoint a nominee director to the board of EPL, it said in a statement.

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Anand Kripalu, managing director and chief executive of EPL said, "This partnership has resulted in meaningful growth by increasing...