Georgia-Pacific is to buy Temple-Inland Building Products from International Paper in an asset deal. The two companies put pen to paper on 13 December 2012. The purchase price was put at US$750m, but may alter slightly as a result of modifications set forth in the agreement. International Paper intends to use the proceeds to cut its liabilities. The take-over is subject to a number of conditions, notably approval from competition authorities, and is poised to close in the first quarter of 2013.

Source: EUWID

Posted and edited by Riona, Hanbao News Department

Contact: rionach@cltimber.com