The Competition Commission of India (CCI) on Friday said it has approved acquisition of majority stake in International Paper APPM by West Coast Paper Mills Ltd.
According to a notice filed with the fair trade regulator, the combination involves "acquisition by West Coast Paper Mills of 51-60 per cent shares of APPM from IP Investments and IP Holdings".
It also includes "acquisition of up to 25 per cent of the shares of APPM from public shareholders of APPM pursuant to an open offer process", the notice added.
Both West Coast Paper Mills and International Paper APPM are in the business of manufacturing and selling of paper and paper board, the notice said.
The CCI in a tweet on Friday said it "approves acquisition of shares in International Paper APPM Limited by West Coast Paper Mills Limited."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app