Chile's Arauco withdraws $107 mln purchase of 3 U.S. mills
SANTIAGO Oct 1 (Reuters) - Chile's Celulosa Arauco y Constitucion said on Wednesday that it will no longer pursue the $107 million acquisition of three mills in the United States from Sierra Pine, after the U.S. Department of Justice opposed the transaction.
Both companies have decided to void the sale-purchase agreement of Sierra Pine's mills in California and Oregon, said Arauco, in a filing with the local securities regulator.
Arauco, one of the world's biggest wood pulp companies, is owned by industrial conglomerate Empresas Copec. (Reporting by Anthony Esposito; Editing by Meredith Mazzilli)
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