/ Ballarpur Industries In Talks To Sell Malaysian Arm To China's Nine Dragons ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 25 April 2017

Ballarpur Industries (BILT), a Gautam Thapar-controlled company for selling its Malaysian forest arm, Sabah Forest Industries, is reportedly is in talks with a Chinese giant, Nine Dragons.

According to a report tabled by a leading business news portal, the deal will be for around $350 million. This will be a yet another effort to deleverage the BILT balance sheet.

BILT for some time is in talks with Nine dragons and the discussion is likely to lead to a binding agreement soon, as per the news report. BILT is one India’s largest manufacturer of writing and printing paper.

In a first significant overseas acquisition by an Indian paper company, BILT had acquired Sabah for almost $261 million. The latter company also makes paper-related products and offers wood-related products such as rough and chemically treated sawn timber and panel-based products which include, raw plywood and dried veneer, said the news report. 

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