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Bowater: going for paper profits
Capping a major two-year corporate restructuring, Bowater Industries in September sold its UK paper-making operations to management and other investors in a 38 million cash buyout. The investor group consisted of 71 managers, who now own 20% of the UK business; the Electra and Globe investment trusts, which together own 70%, and Scandinavian Bank, with just under 10%.
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