Receivers KordaMentha are set to announce the sale of all Gunns assets except for the pulp mill early next week.
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Sydney-based forestry investment company New Forests is believed to have bought the timber business, including Gunns plantations, for $330 million.
Only two of six companies to bid on the assets were interested in the pulp mill and it is understood New Forests' bid did not include the controversial project's permit or land.
Receivers KordaMentha will not confirm or deny the sale.
''We're still in the final stages of negotiations,'' a KordaMentha spokesman said.
The receivers will announce the deal first to Gunns staff on Tuesday or Wednesday.