J K Paper Ltd. Proposed a Buyout Offer to Ballarpur Industries’ Subsidiary
JK Paper offered to acquire two facilities of BILT Graphic Paper Products located in Maharashtra for an undisclosed sum.
As per reports, J K Paper has given a tentative offer and draft term sheet to Avantha group firm Ballarpur Industries for acquisition of two of its facilities. JK Paper had said that the offer is preliminary and subject to customary conditions, including but not limited to initiation and completion of satisfactory due diligence finalization and execution of definitive agreements and applicable law.
In a BSE filing, Ballarpur Industries said “material subsidiary of the company, viz. BILT Graphic Paper Products Ltd (BGPPL) has received a tentative offer and draft term sheet for acquisition of the Ballarpur unit and Ashti unit of BGPPL from JK Paper Ltd (JKPL) pursuant to the non-binding offer letter dated July 5, 2016.”