Oaktree Capital Discloses NewPage Stake ~ market folly

Friday, October 25, 2013

Oaktree Capital Discloses NewPage Stake

Howard Marks' hedge fund firm Oaktree Capital has filed a 13G with the SEC and disclosed a 15.8% ownership stake in NewPage Holdings with 1,117,192 shares.

The filing was required due to activity on October 22nd. 

Per Google Finance, NewPage Group is: "After struggling through several financially challenging years for the coated paper making industry, NewPage would like to do just that, turn over a new page. Through subsidiary NewPage Corp., the company is one of the largest makers of coated and specialty paper in North America. From mills in the Eastern and Midwestern US, NewPage churns out about 3.5 million tons of paper annually. Its papers are often used to produce annual reports, magazines, and catalogs. Customers include xpedx, Advance Magazine Publishers (dba Condé Nast), McGraw-Hill, Time Inc., and Avery Dennison. NewPage Corp. filed for Chapter 11 bankruptcy in late 2011."

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