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Synopsis
Blackstone will be paying $800 million upfront and another $200 in future pay outs linked to performance linked milestones over the next 2-3 years, said people aware of the discussions. The manufacturing operations that Blackstone will acquire in this transaction located in the Asia, namely India and Sri Lanka.
Agencies
MUMBAI: Blackstone is all set to acquire
Piramal Glass, a private company of Ajay Piramal that the billionaire businessman now considers non-core in his portfolio even as the world’s largest PE firm sees demand for specialised glass increasing in the terms of pandemic. The company is one of the four players globally to have type 1 pharma glass capabilities used for complex pharma products like liquid injectable drugs which on the eve of the Covid vaccine rollout is expected to see a demand surge.