Norske Skog divests part of its operations in Brazil
(Thomson Reuters ONE) -
Norske Skog has agreed to sell 51% of the shares in Norske Skog Pisa in Brazil
to Papeles Bio Bio S.A., (former Norske Skog Bio Bio) which is controlled by
Group BO/Pathfinder, a consortium of Chilean investors. The agreed purchase
price for the 51 % stake is USD 41.3 million.
- The divestment is a part of our strategy to improve Norske Skog's cash flow
and financial position. We are pleased to be able to sell part of the Brazilian
operations and enter into a partnership with an industrial player, that we
already know from the sale of our former Chilean operations back in 2012, and
that has long-term plans for the Pisa mill, says Sven Ombudstvedt, president
and CEO of Norske Skog.
- We are extremely happy to have Norske Skog as our partner in Brazil, a country
where BO/Pathfinder currently controls a packaging business. This association
will surely strengthen our position in the South-American market, and will allow
us to give better service to our current and future customers, says Juan
Obach, President of Papeles Bio Bio S.A.
The Pisa mill has a total newsprint production of approximately 170 000 tons,
and is one of total four newsprint mills in South-America. Papeles Bio Bio has
agreed upon the terms of purchasing Norske Skog's remaining shares in the
Brazilian operations within an expected time horizon of one to two years.
The buyer, Papeles Bio Bio S.A., is part of Group BO/Pathfinder. The Group also
owns BO Packaging, which is one of the leading companies in the
Chilean, Brazilian and Peruvian packaging business. The investor consortium is
headed by the BO/Pathfinder Group, former owners of Masisa, and has interests in
graphic, packaging, glass products, building products, agribusiness and real
estate.
Closing of the 51% share transaction is expected to take place in June 2013.
Oslo, 17 June 2013
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#1709773]
Unternehmensinformation / Kurzprofil:
Datum: 17.06.2013 - 07:01 Uhr
Sprache: Deutsch
News-ID 270066
Anzahl Zeichen: 3140
contact information:
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