Domtar sale concludes
January 2, 2007 By Pulp & Paper Canada
Domtar has wrapped up the sale of its 50% stake in Norampac, selling its interest to Cascades for $560 million. Dom…
Domtar has wrapped up the sale of its 50% stake in Norampac, selling its interest to Cascades for $560 million. Domtar has said it plans to use the capital in order to finance its deal with Weyerhaeuser, and to pay down debt.
Now, the Socit gnrale de financement du Qubec is contributing to the deal, through its acquisition of $100 million worth of Cascades capital stock.
“This equity financing dovetails with our investment orientations in the forest products sector, whereby we are seeking to gain favourable positioning for top-performing companies in promising niche markets,” said SGF president Pierre Shedleur.
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