Khaitan and Trilegal bring International Paper to India Acquires Andhra Paper Mills

Bar & Bench March 31 2011

US-based International Paper is acquiring 53.5 percent stake in Hyderabad-based Andhra Pradesh Paper Mills Limited (APPM) from company’s promoter L.N. Bhangur Group for up to $257 million (Rs. 1,150 crore) in cash. This is the first significant domestic acquisition by a foreign paper company.

In addition, International Paper has also agreed to a $62 million (Rs.280 crore) non-compete payment to the selling shareholders. International Paper will also make an open offer to acquire up to an additional 21.5 percent of . . .

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