With reference earlier letter dated September 24, 2015, wherein the Company had informed that Ballarpur Paper Holdings B.V. (BPH), a step down subsidiary of the Company and holding company of Sabah Forest Industries Sdn. Bhd., Malaysia (SFI), had signed a Share Sale Agreement (SSA) dated September 23, 2015, for sale of its entire equity stake of 98.08% in SFI. In this context, Ballarpur Industries has now informed that at the request of Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia (Purchaser), the long stop date for closure of the aforesaid transaction has been extended up to February 29, 2016. Further, the Purchaser is in the process of issuing an additional performance guarantee for USD 10 Million, over and above the USD 12.50 Million performance guarantee issued earlier, as further commitment for the aforesaid transaction.
The above information is a part of company’s filings submitted to BSE.
Company Name | CMP |
---|---|
JK Paper | 372.10 |
TN Newsprints | 251.00 |
West Coast Paper | 608.45 |
Emami Paper Mills | 109.90 |
Andhra Paper | 510.55 |
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