MUMBAI/HYDERABAD: In its second deal in India’s packaging sector in just a couple of months, Hong Kong-headquartered private equity fund PAG has acquired a controlling stake in Pravesha Industries for an enterprise value of $200 million (Rs 1,734 crore). PAG, previously known as the Pacific Alliance Group, has bought a little over 80% of Pravesha from its promoters Bomma Sivaprasad Reddy and RPR Sons Advisors for Rs 1,387 crore. Bomma Reddy is the brother-in-law of Ram Prasad Reddy, one of the promoters of Aurobindo Pharma, and RPR is Ram Prasad Reddy’s investment vehicle. In Nov 2024, PAG announced the purchase of a majority stake in Manjushree Technopak from private equity firm Advent International for an enterprise value of $1 billion.
HK fund PAG buys majority stake in pkg co
