Simpson Thacher is representing funds affiliated with Blackstone in connection with the announced merger of EPL Limited (NSE:EPL) and Indovida India Private Limited. The transaction values EPL at INR 339 per share, 70% higher than closing price on the trading day immediately prior to signing, and the combined platform will have a valuation of approximately $2 billion, with EPL being valued at approximately $1.2 billion and Indovida being valued at approximately $0.7 billion. The transaction is subject to the satisfaction of customary closing conditions and regulatory approvals. Upon completion of the merger, Indorama Ventures and Blackstone will own approximately 51.8% and 16.6% of the merged entity, respectively.
EPL Limited is a leading global packaging company, manufacturing laminated plastic tubes catering to the FMCG and pharmaceutical space. Employing over 6,000+ people representing over 23 different nationalities, EPL functions in 11 countries through 21 state of the art manufacturing facilities, is a leader in sustainability, and is continuing to grow every year.
Indovida is one of the leading rigid PET packaging platform, producing preforms, bottles and closures for food & beverages, healthcare and consumer markets, with 19 manufacturing facilities across 9 countries primarily in Southeast Asia and Africa. 100% owned by Indorama Ventures, Indovida benefits from supply chain resilience, strong sustainability capabilities and a growing footprint across emerging markets.
The Simpson Thacher team includes Ian Ho, Erik Wang and Sonya Ho (M&A); and Etienne Renaudeau, Richard Jamgochian, Marija Momic, Henry Llewellyn and Nabi Can Acar (Antitrust).