Verso to explore selling some mills

MIAMISBURG, Ohio — Verso Corp. announced today a committee has been formed to explore the potential sale of some of its mills, along with other possible transactions.

The committee, with assistance from financial adviser Houlihan Lokey Capital Inc., is charged with leading Verso’s continuing efforts to identify and evaluate a range of potential strategic transaction alternatives. There will be no further disclosure until a definitive agreement is reached or a determination is made that none will be pursued, the company said.

“Verso is committed to exploring strategic transaction alternatives, and the committee will facilitate this process,” Verso Chairman of the Board Rob Amen said.

The committee is comprised of independent directors Eugene Davis, Alan Carr and Steven Scheiwe, with Davis serving as chairman.

Verso operates seven manufacturing facilities, including pulp and paper mills in Quinnesec and Escanaba.