India's ITC plans to acquire Century Pulp & Paper

Recently, India's ITC has received regulatory approval to acquire all operating assets of Century Pulp & Paper, a subsidiary of ABREL located in Lalkuen, Uttarakhand, India. The acquisition will be completed through an all-cash, debt-free sale, valued at approximately 34.98 billion Indian rupees, equivalent to about US$420 million.

Founded in 1984, Century Pulp & Paper is an integrated pulp and paper manufacturer producing writing paper, printing paper, and tissue paper for both domestic and export markets.