https://www.blackstone.com/the-firm/our-people/#people-directory@Eranga87 wrote:Blackstone(BS) acquires Piramal Glas Pvt Ltd for USD 1 Billion consideration. earlier, Piramal Glas listed entity in India capital Market and delist (highest amount paid as a delisting share) since 2014 and keep as Private Ltd. 1st they offer to exist price and again gave a special existing price delisting share. The delisting process really most beneficial (the delisting price is double of traded price)for shareholders.
BS paid for USD 1 billion acquire for 100% ownership Piramal Glas and automatically entitle 46.45% ownership of SL Glas. BS didn't pay a separate amount for SL Piramal Glas. as a whole they paid to USD 1 billion and India Piramal enterprises ltd allocated INR 5.166Billion(USD 70Mn) on behalf of SL Piramal Glas their no. of shares 536Mn share (56.45%). that is the reason Piramal Glas disclosed their acquired purchase consideration for 56.45%. SPA clearly shows that purchase consideration for No. of shares 536Mn. not all of the share.
Pristine Glas Pvt ltd incorporates in 06.11.2020 and appoints two directors namely, Amit Dixit and Mukesh Mehetha. both 2 directors are working in Blackstone Group-India Pvt equity. Pristine belongings to Blackstone and establish a new entity for managing GLAS business in Sri Lanka, India, and USA.
don't keep any doubt regarding GLAS. current price level so attractive for entering. I highly believed GLAS will give you more than 50% returns with the current price level. if they delist share, it will give 100% returns.
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