Ballarpur Industries’ step down subsidiary -- Sabah Forest Industries has entered into a Sale and Purchase Agreement with Pelangi Prestasi (Buyer) on April 04, 2018 for the sale of entire assets (including procurement of fresh timber licenses from the State Government of Sabah) of it, for consideration of $310.00 million. The Buyer has deposited 10% of the consideration in cash.
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.
