Grasim to acquire Terrace Bay Pulp Mill, stock up

According to a release sent to exchanges, the company has signed an agreement through AV Terrace Bay Inc., Canada, a special purpose vehicle (SPV), to acquire the assets of the Terrace Bay Pulp Inc, a paper grade pulp mill in North America.

"Grasim will be holding 40% interest in the proposed SPV while Thai Rayon Public Co. Ltd., Thailand will be holding the balance," company said.

At 12:15 hours IST, the share was trading at Rs 2,680.05, up Rs 17.55, or 0.66%.
 
Even its trading volumes increased 46% to 15,252 equity shares as compared to its 5-day average of 10,415 shares.
 
Market capitalisation of the company currently stands at Rs 24,581.86 crore.