Pulp and Paper Canada

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G-P sells Aracruz interests


April 6, 2004
By Pulp & Paper Canada

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.

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