|  Blackstone acquires 68 % in Gokaldas Exports -
February 25th, 2008
Blackstone acquires 68 % in Gokaldas Exports
MUMBAI: Blackstone, world's biggest private equity fund has increased its stake in garment manufacturer Gokaldas Exports to around 68 per cent.
Blackstone group acquired 6,113,004 shares amounting to 17.78 per cent in Gokaldas Exports for Rs 168.10 crore through an open offer, consolidating its stake in the company to 67.88 per cent, the garment manufacturer said in a filing to the Bombay Stock Exchange (BBSE).
Earlier in January Blackstone Group had made an open offer to the shareholders of Gokaldas Exports for a 20 per cent stake in the company.
Blackstone had proposed to acquire up to 70.1 per cent stake in Gokaldas Exports for an estimated Rs 675 crore.
The global PE firm had made an offer to acquire, up to 6,875,200 fully paid up equity shares representing 20 per cent of the equity capital from the existing shareholders of Gokaldas Exports at a price of Rs 275.
Shares of Gokaldas Exports closed at Rs 268.90, up 1.05 per cent on the BSE.
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