ITC is sharpening its focus on the paper and packaging segment with a strategic move to acquire Century Pulp & Paper (CPP), the pulp and paper arm of Aditya Birla Real Estate—formerly known as Century Textiles and Industries. The deal, valued at up to INR 3,500 crore, is structured as a slump sale and includes all associated assets, liabilities, contracts, and employees.
The acquisition will be executed through a Business Transfer Agreement, positioning CPP as a going concern under ITC’s growing portfolio. The transaction is on a cash-free, debt-free basis, with the consideration payable upon closing. Completion of the deal hinges on regulatory approvals, including a green light from the Competition Commission of India.
Cyril Amarchand Mangaldas is steering the legal machinery behind this high-stakes transaction. The firm deployed a multi-disciplinary team across corporate, real estate, employment, and competition law verticals to handle the due diligence and structure the deal. Their involvement reflects the layered complexity of absorbing an entire industrial undertaking into a conglomerate like ITC.
Once finalized, the acquisition is expected to significantly boost ITC’s capabilities in the fiber-based solutions space—fortifying its presence in an industry where demand for sustainable packaging continues to rise.
