Piramal Group To Sell It's Glass Business For $1 Billion To US' Blackstone

Blackstone Inc, the US capital major, is reportedly in negotiations to acquire the Indian firm Piramal Enterprises' glass sector worth over $1 Billion. The US firm is already in discussions with banks to finance the transaction with a five year loan worth $400 million. To boost capital, Piramal is eyeing to sell some non-core businesses. Earlier in June Piramal had sold 20% shares of its pharmaceutical unit to Carlyle, US.