Xpro to buy out Finnish partner in Terxpro Films

KOLKATA: Xpro India, an SK Birla group company, has decided to buy out Finnish partner Ab Rani Plast Oy���s entire shareholding in Terxpro Films, the joint venture company, for an undisclosed sum. The Birlas will buy out the entire 67.6% stake of Ab Rani and its associate companies.

Post-acquisition, Terxpro Films will become Xpro India���s wholly-owned subsidiary. Those associated with the development say the Birlas intend to restore the unlisted company back to former health by restructuring loans, liabilities as well as its capital, as may be appropriate.When contacted by ET, Xpro India managing director C Bhaskar confirmed the buyout decision but refused to share deal details.