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Sri Lanka’s Piramal Glass parent’s sale narrows to two bidders: report

ECONOMYNEXT – At least two bidders are vying to by India’s Piramal Glass, the parent of publicly traded Piramal Glass Ceylon, a media report said.

Bloomberg Newswires reported that Blackstone Group Inc. and Partners Group Holding AG are in the running to buy the firm, citing un-named sources.

Ajay Piramal, the owner of Piramal group is said to be seeking at least a billion US dollars for Piramal’s glass operations.

The two investment firms and Piramal had declined comment and there is a possibility that the sale may not go through, the report said.

Piramal Enterprises is also in pharmaceuticals and financial services. (Colombo/Sept16/2020)