Investment1 Apr 2025, 12:51 am
Aditya Birla Real Estate Ltd Streamlines Portfolio - Divests Century Pulp and Paper Undertaking for Rs. 3498 Cr.
AI Summary
Aditya Birla Real Estate Ltd (ABREL) has approved the execution of a business transfer agreement for the divestment of its Pulp and Paper undertaking to ITC Limited for a lump-sum cash consideration of Rs. 3498 Cr. The divestment is a strategic portfolio choice to unlock value for the shareholders and sharpen the company's focus on real estate. The transaction is contingent on necessary statutory and regulatory approvals.
Key Highlights
- Aditya Birla Real Estate Ltd is divesting its Pulp and Paper undertaking to ITC Limited for Rs. 3498 Cr.
- The divestment is a strategic portfolio choice to unlock value for the shareholders and sharpen the company's focus on real estate.
- The transaction is contingent on necessary statutory and regulatory approvals.
- JM Financial Limited acted as the exclusive financial advisor and AZB & Partners acted as the legal advisor to ABREL for this transaction.