International Paper APPM’s Promoters namely International Paper Investments (Luxembourg) S.a.r.l. and IP International Holdings Inc. (Sellers) have executed a Share Purchase Agreement (SPA) on May 29, 2019 with West Coast Paper Mills.
Luxembourg and IP International Holdings Inc. hold 21,856,033 equity shares of Rs 10 each and 7,971,496 equity shares of Rs 10 each respectively, comprising 75% of the issued and paid up equity capital of the Company on a fully diluted basis.
As per SPA, West Coast Paper Mills agreed to acquire such number of equity shares of the Company from the Sellers aggregating to a minimum of 51% and up to a maximum of 60% of the issued and paid up equity share capital of the Company as per the terms and conditions stated in the SPA.
International Paper APPM, formerly The Andhra Pradesh Paper Mills, is an integrated paper and pulp manufacturing company. The company is engaged in the business of manufacture and sale of pulp, paper and paper board.