CCI has approved Epsilon Bidco Pte Ltd's proposal to buy 75% holding in Essel Propack. The deal involved the promoter selling 51 per cent stake in the company for Rs 2,157 crore and a mandatory open offer, in which Epsilon was to pick up 26 per cent in the company by paying over Rs 1,000 crore.

Essel Propack is India’s largest rigid plastic packaging company. It employs 3,150 people in its 20 facilities in 10 countries, and manufactures 7 billion laminated tubes annually which are used in the FMCG, pharma and packaged food industries.

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