Transaction to boost consolidated revenue by 11%
Essel Propack announced a complete buyout of Essel Deutschland Germany (EDG). Following this transaction, EDG will be a 100% subsidiary of Essel Propack. Until now, Essel has been a JV partner with 24.9% share in EDG. The enterprise value of EDG stands at USD 32 million.The EDG revenue of approximately USD 40 million will now be consolidated in Essel's global revenue and will boost consolidate revenue by 11%. In FY 2016, Essel Propack's consolidated revenue stood at Rs 2184 crore.
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