Blackstone offloads Rp19bn Essel Propack block

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By Jonathan Breen
21 Sep 2020

US private equity giant Blackstone has sold a chunk of shares in Essel Propack, a tube-packaging and manufacturing company, for Rp18.6bn ($253.7m).

Blackstone, through entity Epsilon Bidco, turned to investors last Thursday night offering a block of 60.7m secondary shares in Essel, representing 19.2% of the company’s total equity capital, according to a source familiar with the matter.

The vendor lined up UBS and local brokerage Systematix Corporate Services to ...

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