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    HomeNewsBusinessStocksBILT to divest entire stake in Malaysian arm; stock up 8%

    BILT to divest entire stake in Malaysian arm; stock up 8%

    The company at its meeting held on July 10, 2015 has approved to divest its entire 98.08 percent stake in its step down subsidiary, Sabah Forest Industries Sdn. Bhd., Malaysia.

    July 13, 2015 / 11:23 IST
       
       
      26 Aug, 2025 12:21
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      Moneycontrol Bureau

       

      Paper manufacturing company, Ballarpur Industries (BILT) gained more than 8 percent intraday Monday as it has divested entire stake in its subsidiary company.

       

      The company at its meeting held on July 10, 2015 has approved to divest its entire 98.08 percent stake in its step down subsidiary, Sabah Forest Industries Sdn. Bhd., Malaysia.  

       

      The divestment is subject to regulatory approvals of the Government of Malaysia, Satisfactory bankers' due diligence of prospective buyers and entering into definite agreements with the prospective buyers.

       

      At 09:49 hrs Ballarpur Industries was quoting at Rs 15.50, up Rs 1.00, or 6.90 percent on the BSE.

       
      Posted by Rakesh Patil 
      first published: Jul 13, 2015 09:55 am

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