The company has completed the sale of its Australian consumer tissue business. Macquarie estimates transaction costs, environmental indemnity and working capital variation of $30-40m.
Asaleo retains the Australasian personal care and B2B operations as well as the consumer tissue business in New Zealand and the Pacific Islands. Macquarie resumes coverage with a Neutral rating and $0.84 target.
Sector: Household & Personal Products.
Target price is $0.84.Current Price is $0.87. Difference: ($0.03) – (brackets indicate current price is over target). If AHY meets the Macquarie target it will return approximately -4% (excluding dividends, fees and charges – negative figures indicate an expected loss).
