ITC Limited has acquired the Pulp and Paper Undertaking of Aditya Birla Real Estate Limited to enhance its position in the growing Indian paper industry.
Target Information
ITC Limited has formalized a Business Transfer Agreement to acquire the Pulp and Paper Undertaking (CPP) from Aditya Birla Real Estate Limited (ABREL). Established in 1984 and located in Lalkuan, Nainital, Uttarakhand, CPP has established itself as a significant player within the Indian paper industry, boasting an impressive installed capacity of 4.8 lakh metric tons per annum.
As a well-regarded entity within the sector, CPP's operations align seamlessly with growth patterns in the paper market, setting the stage for enhanced opportunities following the acquisition.
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Industry Overview
India ranks as the fifth-largest producer of paper and paperboards globally, with an annual production estimated at approximately 23 million metric tons. The industry's turnover surpasses R
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ITC Limited
invested in
Pulp and Paper Undertaking (CPP) of Aditya Birla Real Estate Limited (ABREL)
in
in a Merger deal