Simpson Thacher is representing funds affiliated with Blackstone in connection with the announced merger of EPL Limited 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).