General Announcement::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
General Announcement
Date &Time of Broadcast
01-Oct-2015 17:43:52
Status
New
Announcement Sub Title
Corporate Announcement
Announcement Reference
SG151001OTHRNHRU
Submitted By (Co./ Ind. Name)
Issuer Services
Designation
SGX-ST
Description (Please provide a detailed description of the event in the box below)
We are pleased to inform that Ballarpur Paper Holdings B.V.(BPH), a step down subsidiary of the Company and holding company of Sabah Forest Industries Sdn. Bhd., Malaysia (SFI), has signed a Share Sale Agreement (SSA) with M/s Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia (Purchaser), a subsidiary of Pandawa Sakti Sdn. Bhd. Malaysia and Pandawa Sakti Sdn. Bhd. (Guarantor) for sale of its entire equity stake of 98.08% in SFI, at SFI s Enterprise Value of USD 500.00 million on a cash free debt free basis, subject to necessary adjustment as on the date of closing relating to debt, working capital, currency fluctuation and cash & cash equivalents. The completion of transaction is subject to necessary regulatory approvals of the Government of Malaysia, SFI lenders and completion of certain obligations by the Purchaser, as per SSA. Significant part of the consideration is proposed to be used for debt reduction at the level of SFI, Bilt Paper B.V. and Bilt Graphic Paper Products Ltd.

Completion is expected to take place within 3 months from the date of signing.

Attachments

SFI- Announcement.pdf
Total size =98K

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