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New Forests to Purchase Bell Bay and Tarpeena Sawmills from Receivership

New Forests Pty Limited (“New Forests”) announced today that it has completed an agreement to purchase Gunns’ sawmilling, sales, and distribution business from the Receiver, KordaMentha.

Insights New Forests to Purchase Bell Bay and Tarpeena Sawmills from Receivership
Thursday, 20 December 2012

New Forests will acquire all the assets of Gunns Timber Products (GTP), including the Bell Bay and Tarpeena sawmills. The transaction is anticipated to complete in late January 2013. 

Mark Korda and Bryan Webster, Receivers of Gunns Limited and its wholly owned subsidiaries (Gunns) (ASX: GNS), confirm they have signed a sale and purchase deed with New Forests to sell the timber business as a going concern. The sale price is confidential.