Georgia-Pacific Puts Up $750M For Temple-Inland Unit

Law360, New York (December 13, 2012, 1:19 PM EST) -- Less than a year after its massive merger with Temple-Inland Inc., International Paper Co. has agreed to sell off Temple-Inland's building products manufacturing unit to Georgia-Pacific LLC in a $750 million deal, the company announced Thursday.

Per the all-cash deal, Georgia-Pacific will pick up 16 manufacturing facilities spread across eight states in the southeastern and eastern United States. Pending regulatory and other approvals, the transaction is expected to close in the first three months of the new year, International Paper said.

The paper products giant plans...
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