Chile's Arauco withdraws $107 mln purchase of 3 U.S. mills

miércoles 1 de octubre de 2014 15:10 GYT

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)