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Khaitan, Trilegal turn leaf on $423m paper maker acquisition

Khaitan & Co and Trilegal have advised on US-based International Paper’s 53 per cent acquisition of Andhra Pradesh Paper Mills (APPM) for $247m in cash along with $62m as seller’s non-compete fee.

Khaitan & Co partners Haigreve Khaitan, Bharat Anand and Daksha Baxi advised the promoters of APPM while Trilegal co-founding partner Anand Prasad led for the NYSE-listed International Papers.

The deal also includes a mandatory public offering worth $104m for the shareholders of APPM by International Papers.

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