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Blackstone invests $43.7 mn in SH Kelkar & Co

Blackstone Group co-founder Stephen A. Schwarzman
Blackstone Group co-founder Stephen A. Schwarzman

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Mumbai:

Blackstone Group LP has invested $43.69 million to buy a significant minority stake in unlisted Indian fragrance maker SH Kelkar & Co, both the firms said in a joint statement.

The US private equity giant has bought a 34.5 per cent stake in the company, sources with direct knowledge of the matter said.

SH Kelkar & Co 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.

Story first published on: September 03, 2012 13:31 (IST)

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