Asia Securities facilitates Piramal Glass deal for Blackstone lead PGP Glass for Rs. 6.2 Bn

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 in its landmark acquisition of Piramal Glass Ceylon PLC today (30).

Company said this transaction reaffirms Asia Securities’ position as the preferred investment banking and stockbroking partner to the most sophisticated investors for cross-border M&A transactions in Sri Lanka.

The acquisition price implies a total enterprise value of Rs. 13.9 Billion for the target company according to Asia Securities.

Blackstone Group bought Piramal Glass Ceylon PLC’s 56.45% through their Indian arm PGP Glass Private Limited today for Rs. 6.22 billion.

Blackstone is a leading global investment business investing capital on behalf of pension funds, large institutions and individuals. Their mission is to create long-term value for investors through the careful stewardship of their capital. The Blackstone Group Inc. is an American alternative investment management company based in New York City.

Photo – Dumith Fernando, Chairman – Asia Securities

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