Private equity reprieve for Whakatāne mill

Direct Capital managing director Ross George is a one-third shareholder in the mill's new owner

Mon, 31 May 2021

A consortium of local and European private equity investors has emerged to throw a lifeline to the Whakatāne Mills, which had been slated for closure at the end of next month.No valuation is disclosed in the statement today from the consortium, which involves Auckland-based Ross George, a founder of Auckland-based private equity firm, Direct Capital, who appears to be investing in his own right.The consortium is led by London-based Dermot Smurfit, who like George is listed as a 33% shareholder of Power Paperboard Ltd, a company registered at th...

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