Australasia
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Norske Skog sells Brazil shares, aims Europe
Norske Skog has agreed to sell the remaining 49% of the shares in Norske Skog Pisa in Brazil to Papeles Bio Bio SA (formerly Norske Skog Bio Bio) owned by Group BO / Pathfinder, a consortium of Chilean investors, Reuters reported. The transaction amounts US$ 37 million. The closing of this transaction leaves Norske Skog with no paper production in South America. Sven Ombudstvedt, President and CEO of Norske Skog said: ''We are pleased that we are selling the remaining stake in the Brazilian operations earlier than expected. For some time, we have stated that we aim to have our core business in Europe and Australasia. The sale is also part of our strategy to improve our liquidity''. Back in June 2013, Norske Skog sold its 51% shares in Norske Skog Pisa to the same company for US$ 41.3... Continue reading
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January 7, 2014
Norske Skog sells Brazil shares, aims Europe
Norske Skog has agreed to sell the remaining 49% of the shares in Norske Skog Pisa in Brazil to Papeles Bio Bio SA (formerly Norske Skog Bio Bio) owned by Group BO / Pathfinder, a consortium of Chilean investors, Reuters reported. The transaction amounts US$ 37 million. The closing of this transaction leaves Norske Skog with no paper production in South America. Sven Ombudstvedt, President and CEO of Norske Skog said: ''We are pleased that we are selling the remaining stake in the Brazilian operations earlier than expected. For some time, we have stated that we aim to have our core business in Europe and Australasia. The sale is also part of our strategy to improve our liquidity''. Back in June 2013, Norske Skog sold its 51% shares in Norske Skog Pisa to the same company for US$ 41.3... Continue reading
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Norske Skog sells Brazil shares, aims Europe
Norske Skog has agreed to sell the remaining 49% of the shares in Norske Skog Pisa in Brazil to Papeles Bio Bio SA (formerly Norske Skog Bio Bio) owned by Group BO / Pathfinder, a consortium of Chilean investors, Reuters reported. The transaction amounts US$ 37 million. The closing of this transaction leaves Norske Skog with no paper production in South America. Sven Ombudstvedt, President and CEO of Norske Skog said: ''We are pleased that we are selling the remaining stake in the Brazilian operations earlier than expected. For some time, we have stated that we aim to have our core business in Europe and Australasia. The sale is also part of our strategy to improve our liquidity''. Back in June 2013, Norske Skog sold its 51% shares in Norske Skog Pisa to the same company for US$ 41.3... Continue reading