New Delhi: JK Paper Ltd today said it has made a non-binding offer to acquire two units of Avantha Group firm BILT Graphic Paper Products Ltd (BGPPL).
The non-binding offer (NBO) has been issued pursuant to the decision taken by the committee of directors at its meeting held today, JK Paper said in a BSE filing.
The offer is for acquiring BGPPL’s units at Ballarpur and Asthi in Maharashtra, which manufacture pulp, paper, paper boards and other paper products, it added.
The company further said its NBO is preliminary and subject to customary conditions, including but not limited to initiation and completion of satisfactory due diligence, finalisation, and execution of definitive agreements and receipt of applicable corporate and regulatory approvals.
