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 (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.