trending Market Intelligence /marketintelligence/en/news-insights/trending/gl8-opkfs0erlbipimwztw2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

Weyerhaeuser to divest printing papers business

Mining Exploration Insights

Shareholder Advocates Say New SEC Policy To Prompt Litigation, Less Transparency

Groups Urge Business Roundtable CEOs To Act On New Corporate Purpose Declaration

State of South Korean OTT Video: Subscription


Weyerhaeuser to divest printing papers business

WeyerhaeuserCo. entered into an agreement to sell its printing papers businessto One Rock Capital Partners LLC, marking the end of its strategic review ofthe cellulose fibers business.

Weyerhaeuser has operated the printing papers business,North Pacific Paper Co., via a joint venture partnership with Nippon PaperIndustries Co. Ltd, which is also selling its 50% interest in North PacificPaper. Weyerhaeuser recently sold its liquid packaging board business to Nippon PaperIndustries and the pulp mills business.

While Weyerhaeuser did not disclose the financial terms ofthe deal, a newsrelease from Nippon Paper Industries pegs the deal value of North PacificPaper at $40 million in cash. The transaction includes theprinting papers mill in Longview, Wash., Weyerhaeuser said in a release.Weyerhaeuser intends to use a substantial portion of the after-tax proceedsarising from the sale to repay debt.

The Tokyo-based Nippon Paper Industries added that itexpects to record losses of about ¥90.00 billion from the equity interest sale.It is also reviewing the business of Nippon Paper Industries USA Co. Ltd. as itintends to focus on packaging and industrial paper, including the liquidpackaging board business.

Until the deal closes in the fourth quarter as anticipated,the North Pacific Paper business will continue to operate independently of OneRock Capital Partners. Moelis & Co. acted as financial adviser toWeyerhaeuser.

As of Oct. 4,US$1 was equivalent to ¥102.84.