- Rayonier (NYSE:RYAM) has concluded its previously announced sale of the Matane, Quebec pulp mill and related assets to Sappi, a global diversified wood fiber company, for a total purchase price of $175M.
- Net of fees, expenses and other adjustments, the company expects to receive approximately $150M.
- As previously disclosed, $100M of the proceeds will be used to repay a portion of the company's senior secured credit facilities, with the remaining funds to be retained and used for general corporate purposes.
- RYAM -6% premarket