2 world giants in talks to crack glass ceiling in India
Brookfield and Blackstone are reportedly in advanced talks to merge their investments in PGP Glass, a company specializing in glass packaging for various industries. The potential deal, worth between $1.3- $1.5 billion, would be a significant acquisition for both firms, marking the first major transaction between Brookfield and Blackstone in India.
Sources suggest that the deal could close within the next two to three weeks, allowing Blackstone to exit its six-year investment in the company. Blackstone acquired PGP Glass from billionaire Ajay Piramal for $765 million in 2020 and has been exploring a sale since early 2024. The transaction would also help Brookfield, which declined to comment on the matter.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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