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Wednesday, January 12, 2011

Brookfield puts Longview Fibre on block -- sources, (NYSE: BAC)

Brookfield Asset Management (BAMa.TO) has put paper and packaging company Longview Fibre on the block, hiring Bank of America Corp (BAC.N) to run the sales process, according to three sources familiar with the situation. The Longview, Wash., manufacturer had yearly earnings before interest, taxes, depreciation and amortization of around $114 million, Brookfield said in September. One of the sources said the business was worth in the range of $500 million to $700 million. The sources asked for anonymity because they were not authorized to speak publicly about the sale.