Roshan Packages likely to get 100% ownership of Roshan Sun Tao Paper Mills

By MG News | December 11, 2020 at 04:44 PM GMT+05:00

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December 11, 2020 (MLN): Shandong Yongtai Paper Mills Limited, a shareholder of Roshan Sun Tao Paper Mills (Private) Limited has made an offer to sell their 40% stake in the latter to Roshan Packages Limited (RPL).

RPL currently holds 60% shares in its subsidiary and after the acquisition of the above stake of 40%, Roshan Sun Tao will become a 100% owned subsidiary of RPL. This will be subject to requisite approvals and execution of a definitive settlement agreement with SYPML.

It is reiterated that the management of RPL is fully committed to the project of the subsidiary and strongly believes that the Paper mill project on completion will bring significant benefits to the company and its shareholders.

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