Wednesday, March 14, 2007

Fidelity buys 5% in pharma packaging company Ess Dee Aluminium

Mutual fund house Fidelity International has picked up 5% equity in Ess Dee Aluminium, India’s largest provider of pharma packaging solutions, in an open market transaction. The fund has invested close to Rs. 40 crores in the company’s stock that pegs its enterprise value at around Rs. 800 crores. Ess Dee also has been approached by other private equity funds, including Blackstone, for investment opportunities.

The ICICI Group and famous Asian financial commentator Marc Faber already hold around 3.5% and 4% equity, respectively, in Ess Dee. Other investors include Nimesh Kampani of the JM Financial Group and Jagdish Master of Enam.

For more, read The Economic Times article.

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