Gunns sells woodchip export plant for AU$61m

As mentioned in last week’s issue, Gunns has announced that it will sell its Portland, Victoria woodchip export plant for AU$61.8 million to Australian Bluegum Plantations. Australian Bluegum is owned by US company Global Forest Partners.

Gunns said the transaction agreement, announced on Monday, provided a tolling arrangement for future access to the plant for the sale of forest products from the "green triangle" in Victoria and South Australia that were under Gunns' management. Completion of the transaction is subject to customary conditions including regulatory approvals.

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