Deal Street

November 10, 2017

Italy's Pelliconi acquires stake worth Rs 419 crore in Oricon Packaging


Handshake

Oriental Containers (a subsidiary of Oricon Enterprises) sold majority stake in its closure business subsidiary Oricon Packaging to an Italian firm.

The company sold 51% equity shares of Oricon Packaging to Pelliconi & C. S.p.A. The estimated enterprise value has been pegged at Rs.419.40 crores. Oricon Packaging, the joint venture company will have Pelliconi & C. S.p.A with 51% stake and Oriental Containers Ltd at 48.80%.

Pelliconi & C. S.p.A is one of the world’s leading manufacturers of crown corks, metal and plastic caps for the beverage industry. Pelliconi & C. S.p.A was incorporated in 1939 and has production plants in Italy, Egypt, USA and China having aggregate annual production capacity of over 29 billion metal and plastic caps for the food and beverage industry.

Majmudar & Partners represented Pelliconi & C. S.p.A., and the team was led by Managing Partner Akil Hirani along with Associate Partner Amrit Mehta.

Pedersoli Studio Legale represented Pelliconi as Italian legal counsel.

Phoenix Legal acted for Oricon Enterprises Limited and the team was led by Partner Sawant Singh.

Related Post

latest News

  • Texas House Passes "Sanctuary Cities" Bill

    On April 27, the Texas State House of Representatives passed Senate Bill 4 [SB 4] (also known as the “anti-sanctuary cities” bill), thus approving...

    Read More
  • Access to Election Count System granted to opposition: Kenya SC

    Kenya Supreme Court ordered the election commission on 28th August to allow Raila Odinga's National Super Alliance (NASA) and Uhuru Kenyatta's Jubilee...

    Read More
  • Bangalore Court Stays Sales of Chetan Bhagat’s “One Indian Girl” On Plagiarism Charges

    The City Civil Court in Bangalore accused Chetan Bhagat of plagiarism in his latest and one of the bestselling books “One Indian Girl”.

    Read More