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BRIEF-Norske Skog Sells Forest Assets In Tasmania

Published 06/02/2020, 06:09 pm
Updated 06/02/2020, 06:14 pm
© Reuters.  BRIEF-Norske Skog Sells Forest Assets In Tasmania
NSKOG
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Feb 6 (Reuters) - Norske Skog ASA NSKOG.OL :

* NORSKE SKOG SELLS FOREST ASSETS IN TASMANIA

* NORSKE SKOG SELLS FOREST ASSETS IN TASMANIA

* NORSKE SKOG ASA - NORSKE SKOG HAS ENTERED INTO AN AGREEMENT TO SELL ITS TASMANIAN FOREST ASSETS TO A FUND CONTROLLED BY AUSTRALIAN BASED INVESTMENT MANAGER NEW FORESTS PTY LTD

* PURCHASE PRICE FOR ASSETS IS AUD 62.5 MILLION (NOK 388 MILLION).

* BOOK VALUE OF ASSETS SOLD PER 31 DECEMBER 2019 WERE NOK 297 MILLION

* TRANSACTION WILL RESULT IN A GAIN TO BE RECOGNIZED IN Q1 2020.

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