ITC Limited has offered an amount between INR 3,000 crore to INR 3,500 crore to purchase Aditya Birla Group’s Century Pulp and Paper (CPP).
Feb 5, 2025
ITC Limited has emerged as the front-runner in the race to acquire rival papermaker Century Pulp and Paper (CPP), for an amount ranging between INR 3,000 crore to INR 3,500 crore.
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As per media reports, Bangur family-promoted West Coast Paper Mills was also in the fray to acquire Aditya Birla Group’s CPP, a leading manufacturer of paper, board, tissue and pulp in the country.
The talks were at an advanced stage and CPP was expected to come up with a decision very soon, they added.
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Aditya Birla group is one of the largest in the country, having interests in diverse fields, such as cement, metals, paints, financial services, paints, jewellery retailing, telecom, real estate and retail. It had earlier reportedly attempted to divest its paper subsidiary in 2017, but in vain.
