Resolute, Fibrek Complete Second Step Arrangement
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Resolute Forest Products Inc. and Fibrek Inc., both based in Montreal, Qué., Canada, this week announced the completion of their second step plan of arrangement transaction, whereby Fibrek and RFP Acquisition Inc., a wholly-owned subsidiary of Resolute, have amalgamated, resulting in Resolute indirectly owning 100% of the shares of Fibrek. This announcement follows the approval of the arrangement by Fibrek's shareholders on July 23 and the issuance of a final order of the Superior Court of Quebec on July 27 approving the arrangement.
Fibrek has applied for its common shares to be delisted from the Toronto Stock Exchange and expects such delisting to be effective as of the close of markets today, August 2. In addition, Fibrek has applied and made the required filings with the relevant Canadian securities regulatory authorities for Fibrek to cease being a reporting issuer or the equivalent in the relevant Canadian provinces and territories.
Resolute Forest Products owns or operates 21 pulp and paper mills and 22 wood products facilities in the U.S., Canada, and South Korea. Fibrek operates three pulp mills located in Saint-Félicien, Qué., and in the U.S. at Fairmont, W.Va., and Menominee, Mich., with a combined annual production capacity of 760,000 metric tons.
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