- TM Capital acted as financial advisor to the independent members of the Board of Directors of Fibrek Inc. on its proposed Arrangement to amalgamate with a wholly-owned indirect subsidiary of Resolute Forest Products Inc.
- Fibrek is a leading producer of high-quality virgin and recycled kraft pulp at three mills with combined annual production capacity of 760,000 metric tons located in Saint-Félicien, Québec, Fairmont, West Virginia, and Menominee, Michigan
- The Arrangement constituted the second step transaction for Resolute to acquire all the Fibrek shares not deposited in the take-over bid it launched on December 15, 2011
- TM Capital provided the independent members of Fibrek’s Board with an opinion that the consideration payable to Fibrek shareholders in the Arrangement was fair, from a financial point of view, to the shareholders of Fibrek (other than RFP Acquisition)
- The Arrangement valued Fibrek at approximately C$224 million as of the date of TM Capital’s fairness opinion
- Resolute is a global leader in the forest products industry with a diverse range of products, including newsprint, commercial printing papers, market pulp and wood products. Its shares trade on the New York and Toronto Stock Exchanges
- The acquisition complements Resolute’s existing market pulp operations at five mills with annual production capacity of 1.1 million metric tons
Advised the Independent Members of the Board of Directors
on its proposed arrangement to amalgamate with a wholly-owned indirect subsidiary of
Resolute Acquires Remaining Fibrek Shares
TM Capital acted as financial advisor to the independent members of the Board of Fibrek on its proposed Arrangement to amalgamate with Resolute Forest Products Inc.
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