International Paper (IP) To Acquire Majority Stake in Andhra Pradesh Paper Mills for $257M
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Price: $36.30 -0.44%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 4.5%
EPS Growth %: +179.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 4.5%
EPS Growth %: +179.1%
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International Paper (NYSE: IP) has entered into an agreement for the acquisition of 53.5% of Andhra Pradesh Paper Mills Limited for a purchase price of about $257 million in cash.
In addition, International Paper has agreed to a $62 million non-compete payment to the sellers.
The share purchase and public tender are expected to be completed as early as the third quarter of 2011, subject to regulatory and other approvals, including the Security and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), and, if applicable, the Competition Commission of India (CCI).
In addition, International Paper has agreed to a $62 million non-compete payment to the sellers.
The share purchase and public tender are expected to be completed as early as the third quarter of 2011, subject to regulatory and other approvals, including the Security and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), and, if applicable, the Competition Commission of India (CCI).
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