Nippon Paper Group, Japan's second largest paper maker, has agreed to pay $600 million for Australian Paper. It has been widely known for at least a year that Paperlinx was desperate to offload the Maryvale Mill - and it seems that $600 million is a fire-sale price as Paperlinx valued the business in its books at $720 million.
The new Japanese owners may be more aware of community issues and the destruction of native forest - including koala habitat.
It will be interesting to see if Nippon also buys out the logging interests of Hancock Victorian Plantations which is understood to be keen to leave Australia.
Tags:
australian paper, hancock victorian plantations, nippon paper, paperlinx
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