Asaleo Care (ASX:AHY) today announced the sale of its Australian Consumer Tissue business to Solaris Paper.
Solaris Paper have agreed $180 million, resulting in a book profit on sale of between $15-20 million.
The Australian Consumer Tissue business includes brands such as Sorbent toilet and facial tissue, Handee Ultra paper towel, and Deeko serviettes and disposable tableware.
The Company will retain its Consumer Tissue business in New Zealand, including Purex toilet tissue, Sorbent toilet and facial tissue and Handee towel.
It will also retain its Consumer Tissue business in Fiji and Pacific Islands.
Shares in Asaleo Care (ASX:AHY) trading 28 per cent higher at 80 cents.