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The transaction represents the next step in the Company's transformation to become a premier independent supplier of paperboard to North American converters and the conclusion of its previously announced review of strategic options for the tissue business.
The Company expects net proceeds from the transaction of approximately $850 million, which it intends to use to meaningfully delever its balance sheet and invest in growth initiatives for its continuing operations.
The transaction is expected to close in the latter part of 2024, subject to customary closing conditions.
Posted In: CLW
