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MUMBAI, Sept 3 (Reuters) – The Blackstone Group LP
has invested 2.43 billion rupees ($43.69 million) to buy a
significant minority stake in unlisted Indian fragrance maker SH
Kelkar & Company, both the firms said in a joint statement.
The U.S. private equity giant has bought a 34.5 percent
stake in the company, sources with direct knowledge of the
matter told Reuters.
SH Kelkar & Company provides specialty fragrance and flavour
ingredients used by consumer goods companies.
Blackstone, which is the world’s largest fund and manages
about $166.2 billion globally, has invested about $2.5 billion
in India so far.
Keynote Corporate Services was the advisor for the
transaction.
