News
G-P sells Aracruz interests

Georgia-Pacific has agreed to sell all of its interests in three Brazilian companies, which own a minority, non-vot…

Georgia-Pacific has agreed to sell all of its interests in three Brazilian companies, which own a minority, non-voting interest in Brazilian pulp company Aracruz Celulose S.A.
The undisclosed purchaser is reportedly paying approximately $75 million US for the deal. After-tax proceeds from the sale are expected to be approximately $56 million US and the company expects to record a $10 million US gain upon closing.
The transaction is expected to close during second quarter 2004. The company expects to use the proceeds from the transaction to further reduce its debt.