Brookfield, Platinum slug it out to acquire PGP Glass; PE firms seek controlling stake now at $1.4-1.6 bn
Posted on: 05 Apr, 06:16 AM
Brookfield's private equity division is in discussions with Blackstone, the world's largest alternative asset manager, to buy into PGP Glass, formerly Piramal Glass. The Canadian asset management giant is competing with US firm Platinum Equity Partners, a relatively unknown entity in India so far. The deal contours have changed as negotiations progress, with the PE suitors now seeking a stake of 65-75% with Blackstone owning the rest.
