Norske Skog divests its operations in Chile
(Thomson Reuters ONE) -
Norske Skog has agreed to sell Norske Skog Bio Bio in Chile to Group BO, a
consortium of Chilean investors, for USD 56 million. Group BO plans to continue
producing newsprint at the mill.
- The divestment is a part of our strategy to improve Norske Skog's cash flow
and financial position. We are very pleased to be able to sell the Chilean
operations to an industrial player with long-term plans for the mill, says Sven
Ombudstvedt, president and CEO of Norske Skog.
The Bio Bio mill has a total newsprint production of approximately 125 000 tons,
and is one of total four newsprint mills in South America.
The investors participating in Group BO are already partners in BO Packaging,
which is one of the leading companies in the Chilean and Peruvian packaging
business. The investor consortium is headed by the Pathfinder Group, former
owners of Masisa, and has interests in packaging, glass products, building
products, agribusiness and real estate.
Closing of the transaction is expected to take place in second quarter.
DNB Markets acted as Norske Skog's financial adviser.
Oxenøen, 26 March 2012
Norske Skog
Communication and Corporate affairs
For further information:
Media: Financial markets:
Vice President Corporate Communication Vice President Investor Relations
Carsten Dybevig Tom Rogn
Mob: (+47) 917 63 117 Mob: (+47) 948 55 659
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norske Skog via Thomson Reuters ONE
[HUG#1597045]
Unternehmensinformation / Kurzprofil:
Datum: 26.03.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 128087
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