With reference to the earlier letter dated February 05 & 08, 2016, Ballarpur Industries has now informed that the long stop date for sale of entire equity stake of 98.08% in Sabah Forest Industries Sdn. Bhd., Malaysia (SFI) by Ballarpur Paper Holdings B.V. (BPH), a step down subsidiary of the Company and holding company of SFI to Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia (Purchaser) pursuant to the Share Sale Agreement, has been extended up to March 31, 2016, based on satisfactory discussions & written request of the Purchaser. Further, the performance guarantees of USD 22.50 Million executed in favour of BPH with respect to aforesaid transaction continue to be valid.
The above information is a part of company’s filings submitted to BSE.
