PETALING JAYA: India's largest paper and pulp company Ballarpur Industries Ltd and JP Morgan Securities (Asia Pacific) Ltd will acquire Lion Forest Industries Bhd's (LionFIB) pulp unit for US$261mil or over RM944mil.
LionFIB announced yesterday that it had entered into an agreement with Ballarpur and JP Morgan Securities to dispose its entire 97.78% equity interest in Sabah Forest Industries Sdn Bhd (SFI). LionFIB's shares were suspended from trading at RM3.90 last Friday.
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