Domtar Sells Ownership Interest in Eacom Timber
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Domtar Corp., Montreal, Que., Canada, this past week sold its 48,070,712 common shares of EACOM Timber Corp. by way of a block trade through Canaccord Genuity Corp. for C$0.51 per common share, for a net proceed of C$24,035,356. The sale includes all of Domtar's 11.74% ownership interest in EACOM common shares. Domtar acquired these shares from EACOM on July 1, 2010, as partial consideration for the sale of its Forest Products Business, by Domtar Inc. and Domtar Pulp and Paper Products Inc., both 100% owned subsidiaries of Domtar Corp.
Domtar is the largest integrated manufacturer and marketer of uncoated free sheet paper in North America and the second largest in the world based on production capacity, and is also a manufacturer of paper grade, fluff, and specialty pulp. The company employs approximately 8,500 people.
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