{"id":13448,"date":"2026-05-27T08:07:16","date_gmt":"2026-05-27T12:07:16","guid":{"rendered":"https:\/\/www.packagingindustrynews.com\/?p=13448"},"modified":"2026-05-27T08:07:16","modified_gmt":"2026-05-27T12:07:16","slug":"indias-competition-regulator-clears-indovida-india-epl-merger","status":"publish","type":"post","link":"https:\/\/www.packagingindustrynews.com\/?p=13448","title":{"rendered":"India\u2019s competition regulator clears Indovida India-EPL merger"},"content":{"rendered":"


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Under the deal, Indovida India will be absorbed into EPL. Credit: Cagkan Sayin \/ Shutterstock.com. <\/figcaption><\/figure>\n<\/p><\/div>\n

The Competition Commission of India (CCI) has approved the merger of Indovida India with and into EPL.<\/p>\n

Under the transaction, Indovida India will be absorbed into EPL.<\/p>\n

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As the surviving entity after the merger, EPL will issue shares to Indovida India\u2019s shareholders on a proportionate basis as part of the arrangement.<\/p>\n

Indovida India is a recently incorporated company in India and a wholly owned unit of Indorama Netherlands.<\/p>\n

Both Indovida India and Indorama Netherlands are part of the group led by Indorama Ventures Public Company (IVL) and its affiliates.<\/p>\n

The IVL Group has operations spanning fibres, packaging, recycling and speciality chemicals.<\/p>\n

EPL is an India-based listed company involved in the manufacture and sale of packaging products.<\/p>\n

The CCI said a detailed order will be issued later.<\/p>\n

Earlier this year, the boards of EPL and Indovida India approved the merger<\/a>, subject to regulatory, court and shareholder approvals.<\/p>\n

The combined group is expected to record annual revenue of about $1bn and have a valuation of nearly $2bn.<\/p>\n

Indovida India is supported by Indorama Ventures, which will own a 51.8% stake of the merged entity, while EPL is backed by Blackstone, which will hold 16.6%.<\/p>\n

Hemant Bakshi will lead the merged group as group CEO. Sunil Marwah will remain in charge of the Indovida business within the combined company and will report to Bakshi.<\/p>\n

Separately, earlier this year, Indorama Ventures, Nigerian Breweries and Genesis Power & Energy Solutions agreed to establish<\/a> a large-scale recycled polyethylene terephthalate facility in Lagos, Nigeria.<\/p>\n

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