US-based Blackstone Group acquires 56.5-pct of Piramal Glass

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US-based private equity major Blackstone Group has acquired a 56.5 percent stake of Piramal Glass Ceylon PLC.

The acquisition price implies a total enterprise value of 13.9 billion rupees for the target company.

Asia Securities Advisors (Pvt) Ltd. acted as the buy-side advisor and Asia Securities (Pvt) Ltd acted as the executing stockbroker to the Blackstone Group.