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| Updated on February 06, 2016 Published on February 06, 2016

With reference earlier letter dated September 24, 2015, wherein the Company had informed that Ballarpur Paper Holdings B.V. (BPH), a step down subsidiary of the Company and holding company of Sabah Forest Industries Sdn. Bhd., Malaysia (SFI), had signed a Share Sale Agreement (SSA) dated September 23, 2015, for sale of its entire equity stake of 98.08% in SFI.

In this context, Ballarpur Industries Ltd has now informed BSE that at the request of M/s. Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia (Purchaser), the long stop date for closure of the aforesaid transaction has been extended upto February 29, 2016. Further, the Purchaser is in the process of issuing an additional performance guarantee for USD 10 Million, over and above the USD 12.50 Million performance guarantee issued earlier, as further commitment for the aforesaid transaction.

Source : BSE - >www.bseindia.com

Published on February 06, 2016
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