G-P Selling Unisource Stake

NEW YORK—Georgia-Pacific announced that it is selling a controlling, 60 percent stake in its Unisource Worldwide paper distribution subsidiary to Bain Capital, a global private investment firm.

Georgia-Pacific expects the transaction to result in roughly $850 million after-tax proceeds. Georgia-Pacific will retain 40 percent ownership of Unisource and will provide $170 million in seller financing. Net proceeds of the transaction will be used by Georgia-Pacific to reduce debt.