Oricon Enterprises Limited (BSE:513121) agreed to acquire remaining 70% stake in Oriental Containers Ltd. from Navis Asia Fund IV, L.P., a fund managed by Navis Capital Partners for INR 1.1 billion on March 16, 2015. Under the terms of the agreement, Oricon Enterprises Limited will acquire 7.57 million shares in Oriental Containers Ltd. Post-acquisition, Oriental Containers Ltd. will become its wholly owned subsidiary of Oricon Enterprises Limited. The acquisition would be funded through Oricon Enterprises's internal resources and borrowings including interest free loans from Directors. The transaction was approved by the Board of Directors of Oricon Enterprises Limited. Charles Maynard, Kumar Mahtani, Diwakar Mitr, Puneet Goyal and Mansi Shah of BDA Partners acted as financial advisor to Navis Capital Partners.

Oricon Enterprises Limited (BSE:513121) completed the acquisition of remaining 70% stake in Oriental Containers Ltd. from Navis Asia Fund IV, L.P., a fund managed by Navis Capital Partners on March 27, 2015.