International Paper Gets India Foothold In $257M Deal

Law360, New York (March 29, 2011, 5:30 PM EDT) -- International Paper Co. said Tuesday it will pay India's LN Bangur Group $257 million in cash for a 53.5 percent stake in Andhra Pradesh Paper Mills Ltd. in a move that gives it a significant position in India's fast-growing economy.

Pursuant to Indian securities law, International Paper will also launch a public tender offer to acquire up to an additional 21.5 percent of the outstanding shares of the company for $104 million in cash — after which time the Memphis, Tenn.-based paper giant will own some...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.