Ann: Sale of Australian Paper Manufacturing Opera, page-3

re: Ann: Sale of Australian Paper Manufacturi... Ok, the write down will flip profit from $ 72.3 million last year to a loss this year of around $ 550 million considering the earlier earnings shortfall of 15% forecast on 18 December 2008 plus this $ 600 million write down.

Looks like the sale was made under some duress due to obligations arising from lending covenants.