BILT up 7%, arm to sell 98% stake in SFI to Pandawa Sakti

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26 Aug, 2025 12:21

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Moneycontrol BureauShares of Ballarpur Industries (BILT) gained 6.7 percent intraday Thursday. The company's step down subsidiary Ballarpur Paper Holdings BV has signed a share sale agreement with Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia for sale of its entire equity stake of 98.08 percent in Sabah Forest Industries Sdn. Bhd., Malaysia (SFI).Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia, is a subsidiary of Pandawa Sakti Sdn. Bhd. Malaysia and Pandawa Sakti Sdn. Bhd.The deal is at SFI's enterprise value of USD 500 million on a cash free debt free basis, subject to necessary adjustment as on the date of closing relating to debt, working capital, currency fluctuation and cash and cash equivalents.The company says significant part of consideration is proposed to be used for debt reduction of SFI, Bilt Paper BV and Bilt Graphic Paper Products.The completion of deal is expected to take place within 3 months.At 13:33 hrs Ballarpur Industries was quoting at Rs 15.39, up Rs 0.49, or 3.29 percent on the BSE.Posted by Rakesh Patil