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Georgia-Pacific Corp. recently reached an agreement with Koch Industries Inc. under which Koch will acquire some of Georgia-Pacific's pulp and paper operations — including Old Augusta Railroad Co. — for $610 million and the assumption of $73 million of debt.
The transaction includes Georgia-Pacific's pulp mills in Brunswick, Ga., and New Augusta, Miss.; the 2.5-mile short line which serves the New Augusta mill; and assets from two international sales offices.
Pending regulatory approvals, the sale is expected to be completed during the first quarter.
"The transaction is another step in Georgia-Pacific's ongoing efforts to focus on differentiated businesses," said Chairman and Chief Executive Officer A.D. "Pete" Correll in a prepared statement.
Last month, Georgia-Pacific reached an agreement with Genesee & Wyoming Inc. under which the short-line holding company acquired three of the building-product and paper shipper's short lines for $55.6 million: the 15-mile Chattahoochee Industrial Railroad, 53-mile Arkansas, Louisiana & Mississippi Railroad Co., and 57-mile Fordyce & Princeton Railroad Co.
1/30/2004
Rail News: M&A
Georgia-Pacific sells fourth short line as part of pulp/paper operations deal
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Georgia-Pacific Corp. recently reached an agreement with Koch Industries Inc. under which Koch will acquire some of Georgia-Pacific's pulp and paper operations — including Old Augusta Railroad Co. — for $610 million and the assumption of $73 million of debt.
The transaction includes Georgia-Pacific's pulp mills in Brunswick, Ga., and New Augusta, Miss.; the 2.5-mile short line which serves the New Augusta mill; and assets from two international sales offices.
Pending regulatory approvals, the sale is expected to be completed during the first quarter.
"The transaction is another step in Georgia-Pacific's ongoing efforts to focus on differentiated businesses," said Chairman and Chief Executive Officer A.D. "Pete" Correll in a prepared statement.
Last month, Georgia-Pacific reached an agreement with Genesee & Wyoming Inc. under which the short-line holding company acquired three of the building-product and paper shipper's short lines for $55.6 million: the 15-mile Chattahoochee Industrial Railroad, 53-mile Arkansas, Louisiana & Mississippi Railroad Co., and 57-mile Fordyce & Princeton Railroad Co.
