International Paper is reportedly planning to delist Andhra Pradesh Paper Mills (APPM), which it acquired in 2011. In this regard, the company is in talks with bankers to explore options to delist APPM.
International Paper acquired APPM in 2011 and the price of the acquisition was Rs 674 per share for the promoter stake. This included a non-compete fee of Rs 130.7 per share. However the open offer was priced at Rs 544 per share excluding the non-compete fee. International Paper holds around 75% stake in the AP paper.
Andhra Pradesh Paper Mills, a group company of International Paper in India, is a leading manufacturer of pulp and paper products and caters to both domestic and foreign markets. It produces writing, printing and copier papers at its two manufacturing units in Andhra Pradesh, which have a total paper production capacity of 240,000 metric tonnes per year.
| Company Name | CMP |
|---|---|
| JK Paper | 375.20 |
| TN Newsprints | 140.05 |
| West Coast Paper | 492.00 |
| Emami Paper Mills | 75.24 |
| Seshasayee Paper | 270.95 |
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