Cerberus-Backed NewPage Cancels IPO

NewPage Group Inc., a Miamisburg, Ohio-based coated paper manufactuer, has withdrawn plans for an $805 million IPO. It originally filed in May 2008, and planned to trade on the NYSE with Goldman Sachs serving as lead underwriter.

No reason was given for the withdrawal.

The company was formed in 2005, when Cerberus Management bought the coated paper operations of MeadWestvaco Corp. Last year it reported a $23 million net loss on $2.17 billion in net sales. www.newpagecorp.com