6 Feb 2020 - Norske Skog Press Room

Norske Skog has entered into an agreement to sell its Tasmanian forest assets to a fund controlled by the Australian based investment manager New Forests Pty Ltd. The purchase price for the assets is AUD 62.5 million (NOK 388 million). The book value of the assets sold per 31 December 2019 were NOK 297 million, and the transaction will result in a gain to be recognized in the first quarter 2020. The sale will be accompanied by a long term wood supply agreement to provide pulpwood to the Boyer Mill. Read more.