Clearwater Paper Enters Definitive Deal To Sell Its Tissue Business To Sofidel America For $1.06B
Portfolio Pulse from Benzinga Newsdesk
Clearwater Paper has entered a definitive agreement to sell its tissue business to Sofidel America for $1.06 billion. The company expects net proceeds of approximately $850 million, which will be used to reduce debt and invest in growth initiatives. The transaction is expected to close in late 2024.
July 22, 2024 | 10:12 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Clearwater Paper (CLW) has agreed to sell its tissue business to Sofidel America for $1.06 billion. The company plans to use the $850 million net proceeds to reduce debt and invest in growth. The deal is expected to close in late 2024.
The sale of the tissue business will provide Clearwater Paper with significant funds to reduce its debt and invest in growth initiatives, which is likely to be viewed positively by investors. The transaction's completion in late 2024 provides a clear timeline for these benefits to materialize.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100