Asaleo Care to sell tissue business to Solaris Paper

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.