Ballarpur Industries' $500 Million Deal To Sell Malaysian Arm Called Off

New Delhi: Ballarpur Industries' $500 million deal to sell 98.08 per cent stake in Malaysia's Sabah Forest Industries (SFI) to Pandawa Saktihas has fallen through with the buyer not meeting conditions after repeated extensions of closure deadline. The latest extension of Long Stop Date (LSD) for the deal was announced on May 25 to June 30, 2016 for completion of the deal on the request of the Malaysia-based buyer. In a regulatory f...