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Great Northern Paper to Be Sold for 5.4 Million

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Maine's shuttered Great Northern Paper Co. is selling its assets for $5.4 million to Los Angeles-based Hackman Capital Partners, an investment firm that focuses on the purchase and sale of industrial real estate and equipment, Dow Jones Daily Bankruptcy Review reported yesterday. Since its September bankruptcy filing, Great Northern has said that it hoped to find a buyer to restart its mill operations, which current owner Cate Street Capital halted earlier this year.