Nippon Paper Industries Co., Ltd. (TSE:3863) entered into an agreement to liquid packaging board business from Weyerhaeuser NR Company for approximately $290 million on June 15, 2016. The transaction includes one mill located in Longview, Washington. The Weyerhaeuser liquid packaging board mill and Nippon Paper Industries will continue to operate separately until the transaction closes. The liquid packaging board business reported net sales of $362 million, gross profit of $23 million, operating income of $9 million and total assets of $292 million in the financial year ended December 31, 2015. The transaction is subject to customary closing conditions, receipt of required regulatory approvals, including expiration of the waiting period required pursuant to the provisions of the Hart-Scott-Rodino Antitrust Act and execution and delivery of certain ancillary transaction agreements. The deal received early termination of Antitrust Approval Waiting Period on August 3, 2016. The disposition is not subject to a financing condition. The deal is expected to close in the third quarter 2016. Weyerhaeuser expects to use a substantial portion of the estimated $225 million after-tax proceeds for repayment of debt. Moelis & Company acted as financial advisor for Weyerhaeuser. Nippon Paper Industries Co., Ltd. (TSE:3863) completed the acquisition of liquid packaging board business from Weyerhaeuser NR Company on August 31, 2016.