SAM, AZB, Veritas act on International Paper exit from West Coast Paper Mills

Bar & Bench June 4 2019
International Paper exit from West Coast Paper Mills

International Paper Co., the world’s biggest producer of pulp and paper, is selling a majority stake in its Indian unit to West Coast Paper Mills Ltd for at least Rs 557 crore ($80 million).

Through this deal, the existing promoters (of International Paper APPM) - International Paper Investments SARL Luxembourg and IP International Holdings Inc USA – are selling their shares, reported ET.

The transaction also triggered a mandatory open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and is . . .

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