Clearwater Paper To Sell Tissue Business To Sofidel America For $1.06B; Transaction To Reduce Net Debt And Advance Transformation Into Premier Independent Supplier Of Paperboard To North American Converters
Portfolio Pulse from Benzinga Newsdesk
Clearwater Paper Corporation (CLW) has announced the sale of its tissue business to Sofidel America for $1.06 billion. This transaction is expected to reduce Clearwater Paper's net debt and support its transformation into a leading independent supplier of paperboard to North American converters.
July 24, 2024 | 12:24 pm
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Clearwater Paper Corporation (CLW) is selling its tissue business to Sofidel America for $1.06 billion. This move will reduce the company's net debt and help it focus on its paperboard business.
The sale of the tissue business will provide Clearwater Paper with significant cash to reduce its net debt, which is a positive financial move. Additionally, focusing on the paperboard business could lead to more streamlined operations and potentially higher profitability in the long term.
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