The Competition Commission of India has approved the acquisition of paper and pulp manufacturing business of Aditya Birla Real Estate Limited by ITC Limited. 

The Proposed Combination refers to the sale of paper and pulp manufacturing business of Aditya Birla Real Estate Limited (Target Business) to ITC Limited, as a going concern, in accordance with the Business Transfer Agreement executed between the Parties.

ITC Limited is a listed company with a diversified shareholding and presence across multiple industries. Its businesses encompass fast-moving consumer goods, paper, paperboards and packaging, agri-business, and information technology among others.

Aditya Birla Real Estate Limited is a listed company and is part of the Aditya Birla group. It has diversified interests, including real estate and pulp and paper manufacturing. The Target Business entails the business of manufacturing, distribution and sale of paper and paperboard in India including, uncoated writing and printing paper (such as, creamwove, Maplitho and copier), kraft paper, virgin multi-layer board, tissue paper, cup stock, stiffener paper, etc.

Detailed order of the Commission will follow.

Acquisition of paper and pulp business by ITC approved; sale of Aditya Birla Real Estate's business as going concern. Approval is granted for the transfer of the paper and pulp manufacturing operations of Aditya Birla Real Estate Limited to ITC Limited under a Business Transfer Agreement, effecting the sale of the Target Business as a going concern and encompassing manufacturing, distribution and sale of various paper and paperboard products including uncoated writing and printing grades, kraft paper, virgin multi layer board, tissue paper and cup stock.