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Gokuldas acquired by Blackstone for $165 Million

Written By Views maker on August 27, 2007 | 8/27/2007

Blackstone private equity established in 1987, is a global business with 86 investment professionals and offices in New York, London, Mumbai and Hong Kong.Gokaldas Exports Ltd., India’s largest garment manufacturer and exporter, and The Blackstone Group today announced a partnership to work together to make Gokaldas a global leader in apparel industry. As part of this agreement, Blackstone would acquire a 50.1% stake in the company from the Promoters. The founder promoters would continue to lead the Company with Mr. Madanlal Hinduja as the Chairman, Mr.Rajendra Hinduja as the Managing Director and Mr. Dinesh Hinduja as the Executive Director Blackstone would invest c. $165 million (including open offer) and have representation on the Board of Directors.