Blackstone-backed EPL, a global leader in flexible packaging solutions, and Indovida India, a rigid PET packaging maker, backed by Indorama Ventures, on Sunday signed definitive agreements for a merger. The combined platform will have a valuation of $2 billion, with EPL being valued at $1.2 billion (70% higher than its Friday’s closing price) and Indovida being valued at $0.7 billion. Indorama Ventures will have a 51.8% stake in the merged entity. The revenue of the merged company will be $1 billion.