US-based investment firm Oaktree Capital Management has acquired about 60 per cent stake in city-based Cogent Glass Limited for an estimated enterprise value of Rs 200 crore. Jean Rollier of Oaktree has been appointed non-executive chairman of Cogent's board.
Simultaneously, SGD, a France-based manufacturer of glass packaging with operations in Europe, North and South America and China, has signed a cooperation agreement with Cogent that provides for technology sharing as well as marketing and management support.
Cogent was founded by a group of Indian promoters in 2010 to produce high quality moulded glass vials as well as tubular glass vials and ampoules for the pharmaceutical industry.
Oaktree Capital Management of Los Angeles is a leading investment firm managing over $80 billion in assets, with a global portfolio of companies and, in particular, with several investments in the packaging sector.
On the other hand, SGD is a worldwide leader in the production of glass bottles for pharmaceutical and cosmetics industries.
