Brookfield in advanced talks to buy PGP Glass from Blackstone for up to $1.5 billion

Brookfield is in advanced talks to acquire Indian glass packaging company PGP Glass from Blackstone for between $1.3 billion and $1.5 billion, according to The Economic Times. The potential deal would mark a significant transaction between two major alternative asset managers in India and could provide Blackstone an exit from its roughly six-year investment. Blackstone acquired PGP Glass for about $765 million in 2020 and had been preparing it for a possible IPO this year. PGP Glass designs and produces glass packaging for cosmetics, pharmaceuticals, food, and specialty beverages, with exports to over 60 countries. Brookfield previously participated in the sales process in 2024 but talks stalled before resuming recently.