Aditya Birla Real Estate (ABREL), formerly known as Century Textiles and Industries, has sold Century Pulp and Paper (CPP), located in Lalkuan, Uttarakhand, to ITC for Rs 3,498 crore through a lump-sum sale. JM Financial Limited acted as the exclusive financial advisor, while AZB & Partners served as the legal advisor to ABREL for this transaction. The divestment of the Pulp and Paper business is a value-unlocking exercise for ABREL. It will also enable the company to pursue growth opportunities in its core business — real estate, ABREL said in a statement.