JK Paper Limited has entered into a share purchase agreement (SPA) for acquiring 100 per cent equity shares of Manipal Utility Packaging Solutions Private Limited (MUPSPL) for ₹88.73 crore.

JK Paper will acquire 4.07 crore equity shares representing 100 per cent of capital of MUPSPL as per the SPA. The closing/acquisition is expected to be completed upon fulfilment of the conditions precedent as provided in the SPA.

Dua Associates advised JK Paper on this acquisition deal. The firm advised, acted and assisted JK Paper on all aspects of the transaction including legal due diligence, drafting, reviewing, negotiating and finalizing the transaction documents.

The transaction team was led by Sunil Malik (Senior Advisor), C R Muralidharan (Partner), Mohd Iqbal Butt (Partner), Punish Arora (Partner).

JK Paper is one of India's largest paper and packaging board companies.

MUPSPL is engaged in the business of manufacturing packaging products like folding cartons, corrugated boxes and labels with four manufacturing plants across India.

This deal strengthens JK Paper’s foothold in the flourishing Indian packaging market, which has witnessed encouraging growth fueled by surges in end-use sectors like food & beverage and FMCG.

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