India-listed EPL has agreed to merge with Indovida, a packaging and plastics business backed by Indorama Ventures, in a transaction valuing the combined group at approximately $2bn, according to a report by Reuters.
The deal will bring together EPL’s global packaging operations with Indovida’s plastics portfolio. Under the terms of the transaction, EPL is valued at around $1.2bn, implying a price of INR339 per share, while Indovida is valued at approximately $700m.
Following completion, Indorama...
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