Wausau Inks $130M Unit Sale In Line With Activist Wishes

Law360, New York (March 22, 2013, 3:34 PM EDT) -- Wausau Paper Corp. will unload its specialty paper unit in a $130 million sale to New York private equity firm KPS Capital Partners LP, it said late Thursday, refining the company's focus as it bows to investor pressure to shift to a pure-play business.

The parties did not give a financing breakdown for the sale, which they said was expected to close in the second quarter of this year subject to a regulatory review. The deal covers two Wisconsin paper mills, in Rhinelander and Mosinee....
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