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
08-Jul-2016 14:32:01
Status
New
Announcement Sub Title
Corporate Announcement
Announcement Reference
SG160708OTHR5SIA
Submitted By (Co./ Ind. Name)
Issuer Services
Designation
SGX-ST
Description (Please provide a detailed description of the event in the box below)
1. SFI
We write in continuation to our letter dated 24th September, 2015 for sale of equity stake in Sabah Forest Industries Sdn. Bhd., Malaysia (SFI) by Ballarpur Paper Holdings B.V. (BPH), a subsidiary of the Company and holding company of SFI to M/s Pandawa Sakti (Sabah) Sdn. Bhd., Malaysia (Buyer) pursuant to the Share Sale Agreement (SSA).
Subsequently, we had extended the Long Stop Date (LSD) upto 30th June, 2016, based on request of the Buyer. Since the transaction has not been consummated within the above LSD, BPH has terminated the SSA and is invoking the Performance Guarantees of USD 50.0 Million furnished by the Buyer.

2. BGPPL
Please find herewith the intimation given by a subsidiary of the Company viz BILT Graphic Paper Products Limited, India ( BGPPL ) announcing that they have received a non-binding offer proposing the acquisition of BGPPL s Ballarpur and Ashti undertakings situated in the State of Maharashtra, India.

Attachments

SGX Announcement-07-07-2016.pdf
Total size =125K

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