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AbitibiBowater under TSX delisting review


March 24, 2009
By Pulp & Paper Canada

AbitibiBowater’s common shares and the exchangeable shares of AbitibiBowater Canada Inc. are under delisting review…

AbitibiBowater’s common shares and the exchangeable shares of AbitibiBowater Canada Inc. are under delisting review by the Toronto Stock Exchange (TSX).

According to a company press release, in relation to AbitibiBowater’s previously announced recapitalization proposal for its Abitibi Consolidated Inc. subsidiary, the New York Stock Exchange (NYSE) has accepted the company’s application for and exception from the NYSE’s shareholder approval requirements. According to the company, the time it would take to seek shareholder approval prior to the start of the recapitalization plan would jeopardize its financial viability.

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AbitibiBowater said it expects its common shares and the exchangeable shares of AbitibiBowater Canada Inc. will continue to trade normally during the TSX’s review process.

 


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