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Article: Georgia-Pacific to Sell Building Products Distribution Business.
- Article from:
- PR Newswire
- Article date:
- March 12, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Georgia-Pacific Corp. today announced it has reached a definitive agreement to sell its building products distribution business to a new company owned by Cerberus Capital Management L.P., a private, New York-based investment firm, and members of the distribution business' management team. The overall transaction is valued at approximately $810 million, which assumes $630 million of working capital at closing and includes the separate sale of the business' real estate assets for $100 million.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030425/PAPLOGO )
Georgia-Pacific expects the transaction to result in net after-tax proceeds of approximately $780 ...