Blackstone Group Lp, one of the world’s largest private equity firms, has agreed to buy a majority stake in speciality packaging company Essel Propack Ltd for about $310 mn. The New York-based PE firm has signed a definitive agreement with Essel Propack’s promoter, Ashok Goel, to buy a 51% stake at ₹134 a share. Goel, who holds about 57% stake in the company through the Ashok Goel Trust and affiliates, will retain a minority stake post the transaction.

(Live Mint)