Ballarpur Industries Ltd has bid about $200 million for Malaysia's GS Paper & Packaging Group, the Economic Times reported quoting ET NOW channel.
Ballarpur Industries will submit a final bid for Malaysia's biggest integrated paper maker next week when three other bidders will also submit their bids, the paper reported, .
The company has already tied up funds for its bid and could raise up to $150 million in long-term debt to fund the buy, while the remaining money may be infused as equity by the company, the paper stated.
The company would not like to comment on market speculation, a spokeswoman for Ballarpur Industries was quoted as saying by the paper. Company officials could not be reached for a comment by Reuters.
Source : http://in.reuters.com/article/businessNews/idINIndia-46194120100216
Ballarpur Industries will submit a final bid for Malaysia's biggest integrated paper maker next week when three other bidders will also submit their bids, the paper reported, .
The company has already tied up funds for its bid and could raise up to $150 million in long-term debt to fund the buy, while the remaining money may be infused as equity by the company, the paper stated.
The company would not like to comment on market speculation, a spokeswoman for Ballarpur Industries was quoted as saying by the paper. Company officials could not be reached for a comment by Reuters.
Source : http://in.reuters.com/article/businessNews/idINIndia-46194120100216
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