Ballarpur Industries’ subsidiary Ballarpur Paper Holdings BV will sell its entire stake in Sabah Forest Industries Sdn Bhd (SFI) of Malaysia to Pandawa Sakti (Sabah) Sdn Bhd for an enterprise value of $500 million. The company has signed a share-sale agreement (SSA) with Pandawa Sakti (Sabah) of Malaysia for sale of its entire equity stake of 98.08% in SFI. The transaction is subject to necessary adjustment as on the date of closing relating to debt, working capital, currency fluctuation and cash and cash equivalents.
The completion of transaction is also subject to necessary regulatory approvals of the government of Malaysia, SFI lenders and completion of certain obligations by the purchaser and the deal is likely to close within three months.
Ballarpur Industries is engaged in manufacturing of wide range of papers such as coated wood free, uncoated wood free, copy paper, packaging, business stationery, industrial grades and speciality and fine paper.
| Company Name | CMP |
|---|---|
| JK Paper | 367.45 |
| TN Newsprints | 139.55 |
| West Coast Paper | 479.95 |
| Emami Paper Mills | 74.48 |
| Seshasayee Paper | 267.90 |
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