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Private Sector | Multi State - India | PID: 189028
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West Coast Paper Mills (WCPM) has entered into a share-purchase agreement to acquire about 51-60 percent stake in International Paper’s (IP) Indian unit, International Paper APPM
The deal, which is pursuant to regulatory approvals and an open offer, will be for about Rs 558-656 crore in cash. The stake will be acquired from the existing promoters -- International Paper Investments (Luxembourg), SARL Luxembourg and IP International
The deal is expected to be completed by the end of 2019. WCPM will launch an open offer to acquire all of APPM’s shares held by the public, which amount to 25 percent of APPM’s outstanding shares
Depending on the open offer, WCPM will acquire between 51-60 percent of APPM’s shares at Rs 275 per share from International Paper
| Updated on: 31 - May - 2019
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