Japan Pulp and Paper Company Limited (TSE:8032) signed a letter of intent to acquire Inapa France S.A. from Inapa - Investimentos, Participações e Gestão, S.A. (ENXTLS:INA) for ?27 million on September 25, 2024. The transaction is subject to approval of bankruptcy court and consummation of due diligence investigation. The completion of the transaction is subject to regulatory approvals. This includes in particular the approval of the European Commission as part of the FSR (Foreign Subsidies Regulation) review of third-country subsidies. As of October 18, 2024, The share purchase agreement has signed on October 18, 2024. The Board of Directors of Japan Pulp and Paper Company has passed resolution on October 18, 2024. Japan Pulp and Paper Company will acquire 413,958 shares in Inapa France. The transaction is expected to complete on November 30, 2024.