ITC Seeks CCI Nod To Acquire ABREL's Century Pulp Paper Business For Rs 3,498 Crore

ITC Ltd., has sought the CCI's approval to acquire the pulp and paper business of Aditya Birla Real Estate Ltd., or ABREL for Rs 3,498 crore. "The proposed transaction refers to the sale of the target business (paper and pulp manufacturing business of ABREL) to the acquirer (ITC Ltd), as a going concern, in accordance with the business transfer agreement executed between the parties," according to a notice filed with the Competition Commission of India.