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G-P sells Southern pulp operations

Georgia-Pacific Corp. and Koch Industries’ KoCell, LLC signed a letter of intent for Koch to acquire G-P’s non-inte…

Georgia-Pacific Corp. and Koch Industries’ KoCell, LLC signed a letter of intent for Koch to acquire G-P’s non-integrated fluff and market pulp operations for $610 million, which includes the assumption of $73 million debt.
The estimated after-tax cash proceeds will be $535 million. G-P will use proceeds from the sale to repay debt.
Included in the sale are the pulp mills at Brunswick, GA, and New Augusta, MS, a short-line railroad servicing the New Augusta mill and the assets of two international sales offices.