Business Services Industry
PaperlinX harvests $90m in two sales.
Australasian Business Intelligence, September, 2001
Sep 14, 2001 (The Australian Financial Review
ABIX via COMTEX) -- Australia's PaperlinX Limited has sold two paper businesses for around $A90 million. It has sold Edwards Dunlop and Commonwealth Paper to GS Private Equity. Ian Wightwick, of PaperlinX, said that his company is now seeking paper companies in United States and Europe to buy. He has around $A400 million in his war chest for acquisitions. PaperlinX recently announced a $A105.6 million profit and is currently conducting a roadshow in Europe. PaperlinX was required by the Australian competition watchdog, Australian Competition & Consumer Commission, to sell the two assets before it could acquire the Spicers Paper operation. GS Private Equity has now injected about $A950 million into 16 acquisitions,...
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