KOTA KINABALU: Malaysia’s largest integrated pulp and paper mill Sabah Forest Industries Sdn Bhd (SFI) has been taken over by India’s leading paper manufacturer, Ballarpur Industries Ltd (BILT).
The acquisition, valued at US$261mil (RM991mil), was completed yesterday with the signing of an agreement between BILT and Lion Group, which is selling its 97.98% stake in SFI. The state government is retaining its 2.22% equity interest.
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