Ann: Market Update , page-4

Gunns Limited

Timber company Gunns Limited is understood to have offloaded its Heyfield native forest sawmill in Victoria to Hermal Group for less than some were expecting. The Australian Financial Review reports the asset was sold for $28 million, which is a little less than some $35 million valuations floating around last month. Whatever the case is, Gunns is expected to keep the sale price secret.

The timber company is busy offloading as many non-core assets as possible to give it the flexibility to rekindle its $2.3 billion Bell Bay pulp mill hopes. We’re still waiting for Gunns to emerge from its early-March share suspension.

Today's Business Spectator