Georgia-Pacific to Sell $1 Billion in Assets:...

Georgia-Pacific to Sell $1 Billion in Assets: Georgia-Pacific Corp. said it will sell off at least $1 billion worth of assets soon to cut costs, raise capital and reduce debts incurred in its $4-billion takeover of Great Northern Nekoosa Corp. The Atlanta paper maker also said Great Northern’s headquarters in Norwalk, Conn., will be closed soon. Georgia-Pacific believes that the restructuring will save about $80 million a year. Good said the total cost of Georgia-Pacific’s purchase of Great Northern came to more than $5 billion, including paying off Great Northern’s debt.