Longview Fibre sold for 103 billion

first_imgCompany headquarters: Northbrook, Ill.Stock exchange: Traded on New York Stock Exchange under the symbol KS. KapStone closed at $35.04.Net income: Net income for the first quarter of 2013 was $18 million, or 38 cents a share; that’s up from $10 million in the fourth quarter of 2012 and $16 million in the first quarter of 2012.Chairman and CEO: Roger StoneLongview Fibre Paper & Packaging has been sold for $1.03 billion to KapStone Paper & Packaging Corp., an Illinois company with paper container and packaging mills spread across the south, the companies jointly announced Monday morning.KapStone will buy Longview Fibre from private-equity fund Brookfield Capital Partners II — which is managed by Brookfield Asset Management Inc. — in a debt-free deal.Brookfield, which turned the money-losing Longview mill into a profitable, expanding enterprise since purchasing it in 2007, has had Fibre on the sales block for more than a year. Many other potential buyers had been looking at Fibre.Shares of Kapstone, which were halted ahead of the news, rose 10 percent to $32.75 in recent trading. The stock has more than doubled over the past year.last_img

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