Louisiana-Pacific (LPX) Unit Acquires Remaining Interest in LP-Brasil OSB for $24M
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Louisiana-Pacific Corporation (NYSE: LPX) subsidiary, LP South America (LPSA), acquired the remaining 25 percent equity interest in LP-Brasil OSB Industria e Comercio S.A. (LP Brasil) from Masisa do Brasil LTDA (Masisa-Brasil), a subsidiary of Masisa S.A. in Chile. LP Brasil operates the oriented strand board (OSB) plant located in Ponta Grossa, Parana, Brazil.
LPSA’s acquisition of the remaining 25 percent interest was completed for a purchase price of $24 million, including working capital. The acquisition was funded with $19.5 million of cash on hand and $4.5 million of borrowings under a short-term credit facility with a Chilean bank. LP-Brasil expects to borrow approximately $10 million under a term loan from a Brazilian bank in the near future to replenish its South American cash balance.
LPSA’s acquisition of the remaining 25 percent interest was completed for a purchase price of $24 million, including working capital. The acquisition was funded with $19.5 million of cash on hand and $4.5 million of borrowings under a short-term credit facility with a Chilean bank. LP-Brasil expects to borrow approximately $10 million under a term loan from a Brazilian bank in the near future to replenish its South American cash balance.
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