ABREL sells Century pulp and paper business to ITC for ₹3,498 crore

Quick Summary:

In a regulatory filing, ABREL informed that its board approved the execution of the business transfer agreement for the divestment of pulp and paper undertaking situated in Lalkuan, Uttarakhand, by way of a slump sale to ITC Limited.

Aditya Birla Real Estate Ltd (ABREL) on Monday announced the sale of its pulp and paper business to ITC for Rs 3,498 crore as part of its strategy to focus on property business.

"The transfer of the business will be for a lump-sum cash consideration of Rs 3,498 crore, to be paid by ITC to ABREL," the real estate firm said.

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Category: BusinessFinance

Markets: India

Topics: Uttarakhand ITC Century Aditya Birla Real Estate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-31 @ 21:00:17 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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News ID: 27484366

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