Asset Acquisitions and Disposals::Corporate Announcement

Issuer & Securities

Issuer/ Manager
BILT PAPER B.V.
Securities
BILT PAPER US$200M PERCAPSEC R - USN08328AA95 - 4ZGB
BILT PAPER US$200M PERCAPSEC A - US058590AA85 - 4ZHB
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
06-Apr-2018 15:24:53
Status
New
Announcement Sub Title
Corporate Announcement
Announcement Reference
SG180406OTHR7EGS
Submitted By (Co./ Ind. Name)
Securities Market Control
Designation
SGX-ST
Description (Please provide a detailed description of the event in the box below)
This is to inform you that a Sale and Purchase Agreement has been entered into between Receiver & Manager of Sabah Forest Industries Sdn. Bhd. and Pelangi Prestasi Sdn. Bhd. ('Buyer') on 4th April 2018 for the sale of entire assets (including procurement of fresh timber licenses from the State Government of Sabah) of Sabah Forest Industries Sdn. Bhd. (a step down subsidiary of the Company), for a consideration of RM 1.2 billion (USD 310.00 Million approx.). The Buyer has deposited 10% of the consideration in cash. The said Agreement is subject to necessary Corporate and Regulatory approvals including appropriate Court Orders of the High Court of Sabah & Sarawak, Malaysia.

Attachments

Corporate Announcement.pdf
Total size =468K

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