BUZZ-Canada's Fortress Paper enjoys best day ever on asset sale, leaseback

Mon Jun 6, 2016 11:05am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

** Fortress Paper rises as much as 40.6 pct, its best intraday gain ever, after the pulp and security paper provider inks sale and leaseback deal for Swiss assets

** Company's Swiss unit to sell security paper business assets for ~C$59 mln and then lease them back for a 20-year triple-net lease, including deposit of ~C$660,000

** Up to Friday's close, stock had lost more than a third of its value in past 12 months