Aditya Birla Real Estate Ltd (ABREL), a part of the Aditya Birla Group, has announced the sale of its pulp and paper unit in Lalkuan, Uttarakhand, to ITC Ltd for a lump sum cash consideration of ₹3,498 crore.
The transaction will be executed as a slump sale, with all assets and operations of the unit being transferred to ITC Ltd.
Strategic Business Realignment
ABREL stated that the divestment is aimed at unlocking value and enabling the company to focus on its core real estate business. The funds from the sale will be used to expand and strengthen ABREL’s presence in the real estate sector.
For ITC Ltd, this acquisition aligns with its growth strategy in the pulp and paper industry, reinforcing its position in the packaging and paperboard segment.
